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January Construction Exceeds Estimates

Matt Ball on March 2, 2016 - in Corporate

The U.S. Census Bureau of the Department of Commerce announced that construction spending during January 2016 was estimated at a seasonally adjusted annual rate of $1,140.8 billion, 1.5 percent (±1.0%) above the revised December estimate of $1,123.5 billion. The January figure is 10.4 percent (±1.6%) above the January 2015 estimate of $1,033.3 billion.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $831.4 billion, 0.5 percent (±0.8%)* above the revised December estimate of $827.3 billion. Residential construction was at a seasonally adjusted annual rate of $433.2 billion in January, nearly the same as (±1.3%)* the revised December estimate of $433.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.2 billion in January, 1.0 percent (±0.8%) above the revised December estimate of $394.2 billion.

PUBLIC CONSTRUCTION

In January, the estimated seasonally adjusted annual rate of public construction spending was $309.4 billion, 4.5 percent (±1.6%) above the revised December estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual rate of $68.8 billion, 1.9 percent (±2.8%)* below the revised December estimate of $70.1 billion. Highway construction was at a seasonally adjusted annual rate of $110.4 billion, 14.7 percent (±4.3%) above the revised December estimate of $96.2 billion.

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