Posted March 1, 2011
Construction spending falls in January
The U.S. Census Bureau said today that construction spending fell 0.7 percent in January compared to December, to a seasonally adjusted annual rate of $791.8 billion.
The January figure is 5.9 percent below the January 2010 estimate of $841.0 billion.
Spending on private construction was at a seasonally adjusted annual rate of $490.0 billion, 1.2 percent below the revised December estimate of $495.9 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $301.8 billion, 0.1 percent above the revised December estimate of $301.6 billion.
