Construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827 billion, 0.1% below the revised December estimate of $827.6 billion, and 7.1% above the January 2011 estimate of $772.0 billion, according to new Commerce Department figures.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as the revised December estimate of $538.7 billion.
Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8% above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5% below the revised December estimate of $289.5 billion.
PUBLIC CONSTRUCTION
In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2% below the revised December estimate of $289.0 billion.
Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9% below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2% below the revised December estimate of $83.9 billion.
