U.S. Construction Spending Increases Year-Over-Year

U.S. construction spending in January was estimated at a seasonally adjusted annual rate of $1.83 trillion, down 0.1% from December 2022 but up 5.7% over the same period in 2022.

Private construction spending was $1.44 trillion, marking no change from December. Residential totals for January were $847 billion, 0.6% lower than the previous month, while non-residential totals rose 0.9% from December to $595 billion. See U.S. Census Bureau

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