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In The News:

January Construction Spending Up 3.2% Year-Over-Year

Construction spending during January 2018 was estimated at a seasonally adjusted annual rate of $1,262.8 billion, nearly the same as the revised December estimate. The January figure is 3.2 percent above the January 2017 estimate.

Spending on private construction was at a seasonally adjusted annual rate of $962.7 billion, 0.5 percent below the revised December estimate. Residential construction was at a seasonally adjusted annual rate of $523.2 billion in January, 0.3 percent above the revised December estimate. Nonresidential construction was at a seasonally adjusted annual rate of $439.6 billion in January, 1.5 percent below the revised December estimate.

In January, the estimated seasonally adjusted annual rate of public construction spending was $300.1 billion, 1.8 percent above the revised December estimate. Educational construction was at a seasonally adjusted annual rate of $76.7 billion, 2.1 percent above the revised

December estimate. Highway construction was at a seasonally adjusted annual rate of $92.6 billion, 4.4 percent above the revised December estimate.

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