The 2020 Mid-Year Economic Update_long

Construction Spending Generally Flat from December


Construction spending during January 2007 was estimated at a seasonally adjusted annual rate of $1,180.2 billion, 0.8 percent (±1.4%) ...

Construction spending during January 2007 was estimated at a seasonally adjusted annual rate of $1,180.2 billion, 0.8 percent (±1.4%)* below the revised December estimate of $1,189.3 billion. The January figure is 1.2 percent (±2.2%)* below the January 2006 estimate of $1,194.5 billion.


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Private Construction


Spending on private construction was at a seasonally adjusted annual rate of $894.3 billion, 1.2 percent (±1.4%)* below the revised December estimate of $905.1 billion. Residential construction was at a seasonally adjusted annual rate of $575.4 billion in January, 1.8 percent (±1.3%) below the revised December estimate of $586.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $318.9 billion in January, nearly the same as (±1.4%)* the revised December estimate of $319.0 billion.


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Public Construction


In January, the estimated seasonally adjusted annual rate of public construction spending was $286.0 billion, 0.6 percent (±2.1%)* above the revised December estimate of $284.2 billion. Educational construction was at a seasonally adjusted annual rate of $75.1 billion, 2.6 percent (±4.0%)* below the revised December estimate of $77.1 billion. Highway construction was at a seasonally adjusted annual rate of $76.9 billion, 3.2 percent (±5.0%)* above the revised December estimate of $74.5 billion.


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*Not statistically significant to conclude that the difference is anything but flat.


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Economic indicators at MDM’s Databank.


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