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Posted March 1, 2022

Construction spending rose in January

Construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3 percent above the revised December estimate of $1,655.8 billion.


The January figure is 8.2 percent above the January 2021 estimate of $1,549.8 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,326.5 billion, 1.5 percent above the revised December estimate of $1,307.1 billion. Residential construction was 1.3 percent above December. Nonresidential construction was 1.8 percent above December.

In January, the estimated seasonally adjusted annual rate of public construction spending was $350.7 billion, 0.6 percent above the revised December estimate of $348.7 billion. Educational construction was virtually unchanged from the revised December estimate of $81.0 billion. Highway construction was 0.1 percent below December.

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