The US Census Bureau of the Department of Commerce reported that construction spending during January 2013 was estimated at a seasonally adjusted annual rate of $883.3 billion, 2.1 percent below the revised December estimate of $902.6 billion. The January figure is 7.1 percent above the January 2012 estimate of $824.7 billion.
Spending on private construction was at a seasonally adjusted annual rate of $614.2 billion, 2.6 percent below the revised December estimate of $630.9 billion. Residential construction was at a seasonally adjusted annual rate of $304.6 billion in January, nearly the same as the revised December estimate of $304.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $309.7 billion in January, 5.1 percent below the revised December estimate of $326.2 billion. In January, the estimated seasonally adjusted annual rate of public construction spending was $269 billion, 1 percent below the revised December estimate of $271.7 billion.
