January Construction Spending Down Slightly from December

Residential construction spending sees a slight uptick in January.

Construction spending in January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6% below the revised December estimate of $889.6 billion. The January figure is 9.3% below January 2009, according to the U.S. Census Bureau of the Department of Commerce.

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Spending on private construction was at a seasonally adjusted annual rate of $577.3 billion, 0.6% below December. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in January, 1.3% above December. Nonresidential construction was at a seasonally adjusted annual rate of $316.4 billion in January, 2.1% below December.
 
In January, the estimated seasonally adjusted annual rate of public construction spending was $306.9 billion, 0.7% below December. Educational construction was at a seasonally adjusted annual rate of $80.3 billion, nearly the same as December. Highway construction was at a seasonally adjusted annual rate of $83.5 billion, 1.2% above December.
 
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