U.S. Government Reports Annualized Construction Spend Rate at $884.1 Billion

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(WASHINGTON, DC) -- According to the U.S. Census Bureau of the Department of Commerce, construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent (±1.1%) below the revised December estimate of $889.6 billion. The January figure is 9.3 percent (±1.4%) below the January 2009 estimate of $974.3 billion.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $577.3 billion, 0.6 percent (±1.1%) below the revised December estimate of $580.7 billion. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in January, 1.3 percent (±1.3%) above the revised December estimate of $257.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $316.4 billion in January, 2.1 percent (±1.1%) below the revised December estimate of $323.2 billion.

PUBLIC CONSTRUCTION

In January, the estimated seasonally adjusted annual rate of public construction spending was $306.9 billion, 0.7 percent (±1.8%) below the revised December estimate of $308.9 billion. Educational construction was at a seasonally adjusted annual rate of $80.3 billion, nearly the same as (±3.0%) the revised December estimate of $80.3 billion. Highway construction was at a seasonally adjusted annual rate of $83.5 billion, 1.2 percent (±4.8%)* above the revised December estimate of $82.6 billion.

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