The U.S. Census Bureau is reporting that total construction spending in January was estimated at a seasonally adjusted annual rate of $1.2 trillion, nearly the same as December’s revised estimate. However, January’s number is 3.2% higher than January 2017. Private residential construction came in at a $523.2 billion in January, 0.3% higher than December and private nonresidential construction was $439.6 billion, 1.5% lower than December. Total public construction spending was $300.1 billion, 1.8% higher than December.
