The U.S. Department of Commerce is reporting that total construction spending in January was estimated at a seasonally adjusted annual rate of $1,18 trillion, which is 3.1% higher than January, 2016’s number. Private residential construction was at a seasonally adjusted annual rate of $476.4 billion in January, 0.5% higher than December’s number. Nonresidential construction was at a seasonally adjusted annual rate of $435.3 billion in January, nearly the same as December estimate of $435.4 billion. Public construction spending was $268.7 billion in January.
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