Construction spending rose 1.8 percent at a seasonally adjusted annual rate (SAAR) of $1,369.2 billion in January, according to the Census Bureau. January’s figure is 6.8 percent higher than 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 percent above the revised December estimate of $1,007.6 billion.
Private residential construction was at a seasonally adjusted annual rate of $554.8 billion in January, 2.1 percent above the revised December estimate of $543.6 billion.
Private nonresidential construction was at a seasonally adjusted annual rate of $468.0 billion in January, 0.8 percent below 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 percent above the revised December estimate of $337.8 billion.
Read the Census release.
