January U.S. Construction Spending Rose 0.8%

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The U.S. Census Bureau announced the following value put in place construction statistics for January 2022:

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Total Construction

Construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3 percent (±0.8 percent) above the revised December estimate of $1,655.8 billion. The January figure is 8.2 percent (±1.2 percent) above the January 2021 estimate of $1,549.8 billion.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,326.5 billion, 1.5 percent (±0.5 percent) above the revised December estimate of $1,307.1 billion. Residential construction was at a seasonally adjusted annual rate of $829.4 billion in January, 1.3 percent (±1.3 percent)* above the revised December estimate of $819.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $497.2 billion in January, 1.8 percent (±0.5 percent) above the revised December estimate of $488.2 billion.

Public Construction

In January, the estimated seasonally adjusted annual rate of public construction spending was $350.7 billion, 0.6 percent (±1.5 percent) above the revised December estimate of $348.7 billion. Educational construction was at a seasonally adjusted annual rate of $80.9 billion, virtually unchanged from (±1.8 percent) the revised December estimate of $81.0 billion. Highway construction was at a seasonally adjusted annual rate of $105.3 billion, 0.1 percent (±4.1 percent)* below the revised December estimate of $105.5 billion.

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