Construction spending rose 1.7% at a seasonally adjusted annual rate (SAAR) of $1,521.5 billion in January, according to the Census Bureau. January’s figure is 5.8% above the January 2020 estimate of $1,437.7 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,160.0 billion, 1.7% above the revised December estimate of $1,140.9 billion. Private residential construction was at a seasonally adjusted annual rate of $713.0 billion, 2.5% above the revised December estimate of $695.7 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $447.0 billion in January, 0.4% above the revised December estimate of $445.2 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $361.5 billion, 1.7% above the revised December estimate of $355.5 billion.
Read the Census release.
