January Construction Spending Trends Slightly Downward

Washington, DC, March 3, 2015—Construction spending during January was estimated at a seasonally adjusted rate of $971.4 billion, 1.1% below the revised December estimate of $982.0 billion, reported the U.S. Census Bureau of the Department of Commerce.

The January figure is 1.8% above the estimate for the month.

The estimated seasonally adjusted annual rate of public construction spending was $273.8 billion in January, 2.6% below the revised December estimate. Education construction came in at a seasonally adjusted annual rate of $58.9 billion, 3.4% below the revised December estimate.

Spending on private construction was at a seasonally adjusted rate of $697.6 billion in January, 0.5% below the revised December rate. Residential construction was at a seasonally adjusted rate of $351.7 billion during the first month of 2015, 0.6% below the revised December estimate, and nonresidential construction was at a seasonally adjusted rate of $345.9 billion, 1.6% below the revised December estimate.