January 2015 construction spending was estimated at a seasonally adjusted annual rate of $971.4 billion, 1.1 percent below the revised December estimate of $982 billion, according to the U.S. Census Bureau of the Department of Commerce. The January figure is 1.8 percent above the January 2014 estimate of $954.6 billion.
Spending on private construction was at a seasonally adjusted annual rate of $697.6 billion, 0.5 percent below the revised December estimate of $700.9 billion. Residential construction was at a seasonally adjusted annual rate of $351.7 billion in January, 0.6 percent above the revised December estimate of $349.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $345.9 billion in January, 1.6 percent below the revised December estimate of $351.5 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $273.8 billion, 2.6 percent below the revised December estimate of $281.1 billion. Educational construction was at a seasonally adjusted annual rate of $58.9 billion, 3.4 percent below the revised December estimate of $60.9 billion. Highway construction was at a seasonally adjusted annual rate of $88.3 billion, 0.6 percent above the revised December estimate of $87.8 billion.
