Construction spending was at a seasonally adjusted annual rate of $1,677.2 billion in January, 1.3% above the revised December estimate of $1,655.8 billion. January’s figure is 8.2% above the January 2021 estimate of $1,549.8 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,326.5 billion, 1.5% above the revised December estimate of $1,307.1 billion. Private residential construction was at a seasonally adjusted annual rate of $829.4 billion in January, 1.3% above the revised December estimate of $819.0 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $497.2 billion in January, 1.8% above the revised December estimate of $488.2 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $350.7 billion, 0.6% below the revised December estimate of $348.7 billion.
Read the Census release.
