The 2020 Mid-Year Economic Update_long

Construction Spending in January Up 7.1% YOY

Private and public construction spending both decreased from December.

Construction spending in January was estimated at a seasonally adjusted annual rate of $883.3 billion, according to The U.S. Census Bureau. That rate is 2.1 percent below the revised December estimate of $902.6 billion and 7.1 percent above the January 2012 estimate of $824.7 billion.

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Spending on private construction was $614.2 billion, 2.6 percent below the December estimate of $630.9 billion. Residential construction was $304.6 billion in January, nearly the same as the revised December estimate of $304.7 billion. Nonresidential construction was $309.7 billion in January, 5.1 percent below the revised December estimate of $326.2 billion.

Public construction spending was $269 billion, 1 percent below the revised December estimate of $271.7 billion. Educational construction was $63.7 billion, 3.5 percent below the revised December estimate of $66 billion. Highway construction was $79.1 billion, 0.9 percent above the revised December estimate of $78.4 billion.

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