Construction spending down in January
Construction spending during January 2017 was estimated at a seasonally adjusted annual rate of $1,180.3 billion, 1.0 percent below the revised December estimate of $1,192.2 billion.
The January figure is 3.1 percent above the January 2016 estimate of $1,144.9 billion.
Spending on private construction was at a seasonally adjusted annual rate of $911.6 billion, 0.2 percent above the revised December estimate of $909.4 billion. Residential construction was 0.5 percent above December. Nonresidential construction was unchanged from December.
In January, the estimated seasonally adjusted annual rate of public construction spending was $268.7 billion, 5.0 percent below the revised December estimate of $282.8 billion. Educational construction was 2.7 percent below Decembe. Highway construction was 3.3 percent below December.