The 2020 Mid-Year Economic Update_long

January Construction Spending Down Slightly from December

Residential construction was the only category to post sequential gains in January.

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent below the revised December estimate of $827.6 billion. The January figure is 7.1 percent above the January 2011 estimate of $772 billion.

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Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as the revised December estimate of $538.7 billion. Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8 percent above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5 percent below the revised December estimate of $289.5 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2 percent below the revised December estimate of $289.0 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9 percent below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2 percent below the revised December estimate of $83.9 billion.

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