January U.S. Construction Spending Increases

U.S. construction spending in January was estimated at a seasonally adjusted annual rate of $1.68 trillion, up 1.3% from December 2021 and an 8.2% increase over the year prior.  Private construction spending rose 1.5% from December to a seasonally adjusted annual rate of $1.33 trillion.  Residential totals for January were  1.3% higher than the previous month at $829.4 billion, while non-residential totals grew 1.8% from December to $497.2 billion.  See U.S. Census Bureau