Construction Spending Tops Annualized $1.5T in January

Building Investing Covers Annualized $1.5 T in January

U.S. building and construction investing in January got to a seasonally changed yearly price of $1.521 trillion, the greatest month-to-month tally since the Census Bureau started maintaining track in 2002. Driven by single-family homebuilding, the January figure is 5.8 % over the year-ago period.

January additionally posted a month-over-month rise of 1.7%. Financial experts surveyed by Reuters had forecast a monthly increase of 0.8%.

Residential construction was at a seasonally readjusted annual rate of $713 billion in January, 2.5% over the revised December quote of $695.7 billion. Nonresidential building and construction was an annualized $447 billion in January, 0.4% above December.

Public building and construction spending was an annualized $361.5 billion, 1.7% over the December price quote. Educational building and construction was at a seasonally changed yearly price of $89.9 billion, down 0.1% below the modified December price quote of $90 billion.

Freeway construction costs was an annualized $107.8 billion, 5.8% above the revised December estimate of $101.9 billion.

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Paul Bubny serves as Senior Web content Supervisor for Attach Industrial Realty, a function to which he brings 13-plus years’ experience covering the business property sector as well as 30-plus years in business-to-business journalism.
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Released at Tue, 02 Mar 2021 05:07:29 +0000

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