January Construction Spending Down 0.1%

Construction spending in January fell slightly to a seasonally adjusted annual rate of $1,825.7, the Census Bureau reported Wednesday, marking the eighth straight monthly overall decline.

Total construction spending fell by 0.1 percent from the revised December estimate of $1,827.5 billion, but was is 5.7 percent higher than a year ago ($1,726.6 billion.)

Courtesy U.S. Census Bureau.

Spending on private construction was unchanged at a seasonally adjusted annual rate of $1,442.6 billion. Residential construction fell to a seasonally adjusted annual rate of $847.4 billion in January, 0.6 percent below the revised December estimate of $852.1 billion. Nonresidential construction offset that, rising to a seasonally adjusted annual rate of $595.2 billion in January, 0.9 percent higher than the revised December estimate of $589.9 billion.

Public construction spending fell to $383.1 billion, 0.6 percent below the revised December estimate of $385.5 billion. Educational construction fell to a seasonally adjusted annual rate of $84.1 billion, 0.6 percent below the revised December estimate of $84.6 billion. Highway construction fell to a seasonally adjusted annual rate of $117.3 billion, 0.9 percent below the revised December estimate of $118.4 billion.