January construction spending jumps 11.7% YOY
Construction spending during January 2024 was estimated at a seasonally adjusted annual rate of $2,102.4 billion, 0.2% (±0.8%)* below the revised December estimate of $2,105.8 billion. The January figure is 11.7% (±1.5%) above the January 2023 estimate of $1,882.2 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,623.4 billion, 0.1% (±0.7%)* above the revised December estimate of $1,622.3 billion. Residential construction was at a seasonally adjusted annual rate of $900.8 billion in January, 0.2% (±1.3%)* above the revised December estimate of $899.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $722.6 billion in January, 0.1 percent (±0.7%)* below the revised December estimate of $723.2 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $479.0 billion, 0.9% (±1.5%)* below the revised December estimate of $483.5 billion. Educational construction was at a seasonally adjusted annual rate of $101.5 billion, 0.7% (±3.1%)* below the revised December estimate of $102.3 billion. Highway construction was at a seasonally adjusted annual rate of $150.1 billion, 2.1% (±3.6%)* below the revised December estimate of $153.3 billion.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
