Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1 percent below the upwardly revised December estimate of $1,827.5 billion. However, the January “year-over-year” figure is 5.7 percent above the January 2022 estimate of $1,726.6 billion. Private sector spending outperformed the public sector, which was off from its December ’22 levels.

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