U.S. Construction Annual Spend Rate at $792 Billion in January, Down 5.9% Year-over-Year

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According to the U.S. Census Bureau of the Department of Commerce, U.S. construction spending during January 2011 was estimated at a seasonally adjusted annual rate of $791.8 billion, 0.7 percent (±1.4%) below the revised December estimate of $797.6 billion. The January figure is 5.9 percent (±1.8%) below the January 2010 estimate of $841.0 billion.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $490.0 billion, 1.2 percent (±1.1%) below the revised December estimate of $495.9 billion. Residential construction was at a seasonally adjusted annual rate of $245.6 billion in January, 5.3 percent (±1.3%) above the revised December estimate of $233.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $244.4 billion in January, 6.9 percent (±1.1%) below the revised December estimate of $262.7 billion.

Public Construction

In January, the estimated seasonally adjusted annual rate of public construction spending was $301.8 billion, 0.1 percent (±2.1%) above the revised December estimate of $301.6 billion. Educational construction was at a seasonally adjusted annual rate of $70.2 billion, 1.7 percent (±3.2%) above the revised December estimate of $69.0 billion. Highway construction was at a seasonally adjusted annual rate of $85.4 billion, 0.7 percent (±6.2%)* below the revised December estimate of $86.1 billion.

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