The US Census Bureau of the Department of Commerce reported Tuesday that construction spending in the US in January totaled about $791.8 billion, 0.7 percent (±1.4 percent) below December spending levels of $797.6 billion. The January 2011 total is also 5.9 percent (±1.8 percent) below January 2010 levels of $841 billion.
The decline came primarily from private construction where spending totaled $490 billion in January, a 1.2 percent (±1.1 percent) below December spending of $495.9 billion. Residential construction fell 5.3 percent for December to January, while nonresidential construction declined 6.9 percent.
The public construction sector registered minor increases in January. The annual rate of public construction spending was $301.8 million over the month, a 0.1 percent (±2.1 percent) increase over December levels of $301.8 billion.