Construction Spending Rose 1.8% in January

Washington, DC, March 2, 2020-Construction spending during January 2020 was estimated at a seasonally adjusted annual rate of $1,369.2 billion, 1.8% above the revised December estimate of $1,345.5 billion, according to the U.S. Census Bureau.

The January figure is 6.8% above the January 2019 estimate of $1,282.5 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,022.7 billion, 1.5% above the revised December estimate of $1,007.6 billion. Residential construction was at a seasonally adjusted annual rate of $554.8 billion in January, 2.1% above the revised December estimate of $543.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $468.0 billion in January, 0.8% above the revised December estimate of $464.1 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $346.5 billion, 2.6% above the revised December estimate of $337.8 billion. Educational construction was at a seasonally adjusted annual rate of $81.5 billion, 0.7% above the revised December estimate of $80.9 billion. Highway construction was at a seasonally adjusted annual rate of $103.9 billion, 5.4% above the revised December estimate of $98.6 billion.