According to the U.S. Census Bureau of the Department of Commerce, total construction spending for January 2015 was estimated at a seasonally adjusted annual rate of $971.4 billion. This rate is a decrease of 1.1 percent from the revised December estimate of $982.0 billion. Compared to a year ago, the January rate is up 1.8 percent from that of the January 2014 rate, which was estimated at $954.6 billion.
Private construction spending was estimated at a seasonally adjusted annual rate of $697.6 billion, which is down 0.5 percent from December’s revised estimate of $700.9 billion. Residential construction spending for January was at a seasonally adjusted annual rate of $351.7 billion, up 0.6 percent from the previous month’s revised estimate of $349.5 billion. Nonresidential construction spending for January was estimated at $345.9 billion, down 1.6 percent from December’s revised estimate of $351.5 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $273.8 billion, down 2.6 percent from December’s revised estimate of $281.1 billion. Educational construction spending for January was at an adjusted rate of $58.9 billion, down 3.4 percent from the revised December estimate of $60.9 billion. Highway construction spending was estimated at an adjusted rate of $88.3 billion for January, increasing by 0.6 percent over December’s revised estimate of $87.8 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
