Construction spending ticks up in January
Only education bucks upward trend, dipping 1.7 percent for month.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2016 was estimated at a seasonally adjusted annual rate of $1,140.8 billion, 1.5 percent (±1.0%) above the revised December estimate of $1,123.5 billion. The January figure is 10.4 percent (±1.6%) above the January 2015 estimate of $1,033.3 billion.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $831.4 billion, 0.5 percent (±0.8%)* above the revised December estimate of $827.3 billion.
Residential construction was at a seasonally adjusted annual rate of $433.2 billion in January, nearly the same as (±1.3%)* the revised December estimate of $433.1 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $398.2 billion in January, 1.0 percent (±0.8%) above the revised December estimate of $394.2 billion.
PUBLIC CONSTRUCTION
In January, the estimated seasonally adjusted annual rate of public construction spending was $309.4 billion, 4.5 percent (±1.6%) above the revised December estimate of $296.2 billion.
Educational construction was at a seasonally adjusted annual rate of $68.8 billion, 1.9 percent (±2.8%)* below the revised December estimate of $70.1 billion.
Highway construction was at a seasonally adjusted annual rate of $110.4 billion, 14.7 percent (±4.3%) above the revised December estimate of $96.2 billion.
CONTRACTOR SUPPLY MAGAZINE
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