January Construction Spending Up 3.1% Year-Over-Year

Construction spending down 1 percent from December.

January construction spending was estimated at a seasonally adjusted annual rate of $1,180.3 billion, 1 percent below the revised December estimate of $1,192.1 billion, according to the U.S. Census Bureau of the Department of Commerce. The January figure is 3.1 percent above the January 2016 estimate of $1,144.9 billion.

In January, spending on private construction was at a seasonally adjusted annual rate of $911.6 billion, 0.2 percent above the revised December estimate of $909.4 billion. Residential construction was at a seasonally adjusted annual rate of $476.4 billion in January, 0.5 percent above the December estimate of $474 billion. Nonresidential construction was at a seasonally adjusted annual rate of $435.2 billion in January, flat compared with the revised December estimate of $435.4 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $268.7 billion, 5 percent below the revised December estimate of $282.7 billion. Educational construction was at a seasonally adjusted annual rate of $69.2 billion, 2.7 percent below the revised December estimate of $71.1 billion. Highway construction was at a seasonally adjusted annual rate of $86.7 billion, 3.2 percent below the revised December estimate of $89.6 billion.

                                                                                                                                                       

 

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