Monday, March 2, 2015

Construction Spending Decreased 1.1% (SAAR) in January

Construction spending decreased 1.1% in January to a seasonally adjusted annual rate (SAAR) of $971.4 billion. Year-over-year construction spending increased 1.8%.

Total private construction declined 0.5% to $697.6 billion (SAAR), yet increased 0.5% from the previous year.

Private residential construction increased 0.6% to $351.7 billion (SAAR), as single family construction grew 0.6% and multi-family construction grew 1.9%.

Non-residential construction decreased 1.6% in January, yet was 4.8% above the year-ago level.

Public construction declined 2.6% from December, yet increased 5.1% from the year-ago level.

Read the Census report.

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