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March 14, 2019

Construction Spending Surged in January

Construction Spending Surged in January

U.S. construction spending in January increased 1.3 percent over December, the largest monthly gain since spending was up 1.7 percent in April 2018.

Total spending was estimated at a seasonally adjusted annual rate of $1,279.6 billion, up from the revised December estimate of $1,263.1 billion. The January figure is 0.3 percent above the January 2018 estimate of $1,276.3 billion.

Private construction spending rose 0.2 percent above the December figure to a seasonally adjusted annual rate of $966.0 billion. Nonresidential construction climbed 0.8 percent, while residential construction fell 0.3 percent.

In the public markets, construction spending was at a seasonally adjusted annual rate of $966.0 billion, up 1.6 percent above the December pace. Highway construction climbed 11.8 percent above the December rate, educational construction was up 2.2 percent, sewage and waste disposal rose 1.4 percent, while water supply spending fell 1.1 percent.

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