The U.S. Census Bureau announced on March 1 that construction spending during January 2016 was estimated at a seasonally adjusted annual rate of $1,140.8 billion, 1.5 percent above the revised December estimate of $1,123.5 billion. The January figure is 10.4 percent above the January 2015 estimate of $1,033.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $831.4 billion, 0.5 percent above the revised December estimate of $827.3 billion. Residential construction was at a seasonally adjusted annual rate of $433.2 billion in January, nearly the same as the revised December estimate of $433.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.2 billion in January, 1.0 percent above the revised December estimate of $394.2 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $309.4 billion, 4.5 percent above the revised December estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual rate of $68.8 billion, 1.9 percent below the revised December estimate of $70.1 billion.
