US construction spending up 1.7 percent in January

US construction spending up 1.7 percent in January

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The US Census Bureau announced that construction spending during January 2021 was estimated at a seasonally adjusted annual rate of $1,521.5 billion, 1.7 percent (±0.7 percent) above the revised December estimate of $1,496.5 billion. The January figure is 5.8 percent (±1.0 percent) above the January 2020 estimate of $1,437.7 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,160.0 billion, 1.7 percent (±0.5 percent) above the revised December estimate of $1,140.9 billion. Residential construction was at a seasonally adjusted annual rate of $713.0 billion in January, 2.5 percent (±1.3 percent) above the revised December estimate of $695.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.0 billion in January, 0.4 percent (±0.5 percent) above the revised December estimate of $445.2 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $361.5 billion, 1.7 percent (±1.2 percent) above the revised December estimate of $355.5 billion. Educational construction was at a seasonally adjusted annual rate of $89.9 billion, 0.1 percent (±1.3 percent) below the revised December estimate of $90.0 billion. Highway construction was at a seasonally adjusted annual rate of $107.8 billion, 5.8 percent (±3.1 percent) above the revised December estimate of $101.9 billion.

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