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Construction Spending Starts 2019 Off Strong

Thu, March 21, 2019 6:09 PM | CIRT News (Administrator)

The U.S. Census Bureau report, delayed due to the federal government shutdown, had good news related to construction put in place for January 2019 estimated at a seasonally adjusted annual rate of $1,307.3 billion, 3.5 percent above the revised December estimate of $1,263.1 billion. Most of the bounce in the new year came in public sector spending which moved-up nearly 5.0 percent with sizable gains in highway construction. The January figure is 2.4 percent above the January 2018 estimate of $1,276.3 billion. 

PRIVATE CONSTRUCTION
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Private Construction Spending on private construction was at a seasonally adjusted annual rate of $966.0 billion, 0.2 percent above the revised December estimate of $964.2 billion. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in January, 0.3 percent  below the revised December estimate of $512.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in January, 0.8 percent above the revised December estimate of $451.2 billion.   MORE


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