U.S. Construction Annual Spend Rate at $827 Billion in January

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Based on the latest U.S. Department of Commerce construction data, U.S. construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $ 827.0 billion, 0.1 percent (±1.1%) below the revised December estimate of $ 827.6 billion. The January figure is 7.1 percent (±1.8%) above the January 2011 estimate of $ 772.0 billion.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $ 538.7 billion, nearly the same as (±1.1%) the revised December estimate of $ 538.7 billion. Residential construction was at a seasonally adjusted annual rate of $ 253.6 billion in January, 1.8 percent (±1.3%) above the revised December estimate of $ 249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $ 285.0 billion in January, 1.5 percent (±1.1%) below the revised December estimate of $ 289.5 billion.

Public Construction

In January, the estimated seasonally adjusted annual rate of public construction spending was $ 288.3 billion, 0.2 percent (±1.8%) below the revised December estimate of $ 289.0 billion. Educational construction was at a seasonally adjusted annual rate of $ 71.6 billion, 0.9 percent (±3.4%) below the revised December estimate of $ 72.2 billion. Highway construction was at a seasonally adjusted annual rate of $ 83.7 billion, 0.2 percent (±3.8%) below the revised December estimate of $ 83.9 billion.

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