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Construction Spending Annual Rates for January 2016

By March 1, 2016 November 19th, 2019 Construction Law

According to the U.S. Census Bureau of the Department of Commerce, total construction spending for January 2016 was estimated at a seasonally adjusted annual rate of $1,140.8 billion.  This rate is an increase of 1.5 percent from the revised December estimate of $1,123.5 billion.  Compared to a year ago, the January rate is up 10.4 percent from that of the January 2015 rate, which was estimated at $1,033.3 billion.

Private construction spending was estimated at a seasonally adjusted annual rate of $831.4 billion, up 0.5 percent from December’s revised estimate of $827.3 billion.  Residential construction spending for January was at a seasonally adjusted annual rate of $433.2 billion, remaining nearly identical to the previous month’s revised estimate of $433.1 billion.  Nonresidential construction spending for January was estimated at $398.2 billion, up 1.0 percent from December’s revised estimate of $394.2 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $309.4 billion, up 4.5 percent from December’s revised estimate of $296.2 billion.  Educational construction spending for January was at an adjusted rate of $68.8 billion, down 1.9 percent from the revised December estimate of $70.1 billion.  Highway construction spending was estimated at an adjusted rate of $110.4 billion for January, increasing by 14.7 percent over December’s revised estimate of $96.2 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.

 

Eli Robbins

Author Eli Robbins

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