January Construction Spending Dips

U.S. construction spending in January was estimated at a seasonally adjusted annual rate of $2.1 trillion, declining 0.2% from December 2023 but 11.7% higher than January 2023.

Private construction spending was $1.6 trillion, growing 0.1% from December 2023. Residential totals were $900.8 billion in January, up 0.2% from the previous month. Non-residential spending was $722.6 billion, decreasing 0.1% from December 2023. See U.S. Census Bureau

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