The US Census Bureau announced today that construction spending during January 2017 was estimated at a seasonally adjusted annual rate of $1,180.3 billion, 1.0 percent (±1.0 percent) below the revised December estimate of $1,192.2 billion. The January figure is 3.1 percent (±1.5 percent) above the January 2016 estimate of $1,144.9 billion.
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $911.6 billion, 0.2 percent (±0.8 percent) above the revised December estimate of $909.4 billion. Residential construction was at a seasonally adjusted annual rate of $476.4 billion in January, 0.5 percent (±1.3 percent) above the revised December estimate of $474.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $435.3 billion in January, nearly the same as (±0.8 percent) the revised December estimate of $435.4 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $268.7 billion, 5.0 percent (±1.8 percent) below the revised December estimate of $282.8 billion. Educational construction was at a seasonally adjusted annual rate of $69.2 billion, 2.7 percent (±2.5 percent) below the revised December estimate of $71.1 billion. Highway construction was at a seasonally adjusted annual rate of $86.7 billion, 3.3 percent (±4.1 percent) below the revised December estimate of $89.6 billion.