Construction Spending Fell 1.0% in January, Up 3.1% YOY

Washington, DC, March 1, 2017—Construction spending during January 2017 was estimated at a seasonally adjusted annual rate of $1,180.3 billion, 1.0% below the revised December estimate of $1,192.2 billion.

The January figure is 3.1% above the January 2016 estimate of $1,144.9 billion.

Spending on private construction was at a seasonally adjusted annual rate of $911.6 billion, 0.2% above the revised December estimate of $909.4 billion. Residential construction was at a seasonally adjusted annual rate of $476.4 billion in January, 0.5% above the revised December estimate of $474.0 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $435.3 billion in January, nearly the same as the revised December estimate of $435.4 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $268.7 billion, 5.0% below the revised December estimate of $282.8 billion. Educational construction was at a seasonally adjusted annual rate of $69.2 billion, 2.7% below the revised December estimate of $71.1 billion. Highway construction was at a seasonally adjusted annual rate of $86.7 billion, 3.3% below the revised December estimate of $89.6 billion.