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Construction Spending Increased in January

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Construction spending during January 2019 was estimated at a seasonally adjusted annual rate of $1,279.6 billion, 1.3% above the revised December estimate of $1,263.1 billion. The January figure is 0.3% above the January 2018 estimate of $1,276.3 billion, according to new data from the U.S. Census Bureau. 

Spending on private construction was at a seasonally adjusted annual rate of $966.0 billion, 0.2% above the revised December estimate of $964.2 billion. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in January, 0.3% below the revised December estimate of $512.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in January, 0.8% above the revised December estimate of $451.2 billion. 

In January, the estimated seasonally adjusted annual rate of public construction spending was $313.6 billion, 4.9% above the revised December estimate of $299.0 billion. Educational construction was at a seasonally adjusted annual rate of $77.8 billion, 2.2% above the revised December estimate of $76.1 billion. Highway construction was at a seasonally adjusted annual rate of $99.9 billion, 11.8% above the revised December estimate of $89.3 billion. 

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