Total U.S. construction spending in January was estimated at a seasonally-adjusted rate of $2.102 trillion, down 0.2% from December’s revised figure and up 11.7% year-over-year, according to U.S. Census Bureau data released March 1.
The monthly decrease followed a 0.9% increase in December.
Private Construction
January spending on private construction was at a seasonally-adjusted annual rate of $1.623 trillion — 0.1% above December’s revised figure. Residential construction was at a rate of $901 billion, up 0.2% above the revised December figure, while nonresidential construction’s rate of $723 billion was 0.1% below December.
Public Construction
January spending on public construction was at a seasonally-adjusted annual rate of $479 billion — 0.9% below December’s revised figure. Educational construction was at a rate of $101.5 billion, 0.7% below December, while highway construction’s rate of $150 billion was 2.1% below December.
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November spending was 0.4% above October's figure, which was revised considerably higher.
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Spending was up 10.7% year-over-year, with nonresidential constuction up 20% from a year earlier.
