Construction Spending Decreased 0.2% in January
From the Census Bureau reported that overall construction spending decreased: Construction spending during January 2025 was estimated at a seasonally adjusted annual rate of $2,192.5 billion, 0.2 percent below the revised December estimate of $2,196.0 billion. The January figure is 3.3 percent above the January 2024 estimate of $2,122.2 billion. emphasis addedPrivate spending decreased and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $1,686.0 billion, 0.2 percent below the revised December estimate of $1,690.1 billion. ... In January, the estimated seasonally adjusted annual rate of public construction spending was $506.6 billion, 0.1 percent above the revised December estimate of $505.9 billion. Click on graph for larger image. This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted. Private residential (red) spending is 4.9% below the peak in 2022. Private non-residential (blue) spending is at a new peak. Public construction spending is 0.1% below the peak in November 2024. The second graph shows the year-over-year change in construction spending. On a year-over-year basis, private residential construction spending is up 3.1%. Private non-residential spending is up 1.8% year-over-year. Public spending is up 5.9% year-over-year. This was below consensus expectations; however, spending for the previous two months was revised up.
From the Census Bureau reported that overall construction spending decreased:
Click on graph for larger image.
This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Private residential (red) spending is 4.9% below the peak in 2022.
Private non-residential (blue) spending is at a new peak.
Public construction spending is 0.1% below the peak in November 2024.
The second graph shows the year-over-year change in construction spending.
On a year-over-year basis, private residential construction spending is up 3.1%. Private non-residential spending is up 1.8% year-over-year. Public spending is up 5.9% year-over-year.
Construction spending during January 2025 was estimated at a seasonally adjusted annual rate of $2,192.5 billion, 0.2 percent below the revised December estimate of $2,196.0 billion. The January figure is 3.3 percent above the January 2024 estimate of $2,122.2 billion.Private spending decreased and public spending increased:
emphasis added
Spending on private construction was at a seasonally adjusted annual rate of $1,686.0 billion, 0.2 percent below the revised December estimate of $1,690.1 billion. ...
In January, the estimated seasonally adjusted annual rate of public construction spending was $506.6 billion, 0.1 percent above the revised December estimate of $505.9 billion.
Click on graph for larger image.This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Private residential (red) spending is 4.9% below the peak in 2022.
Private non-residential (blue) spending is at a new peak.
Public construction spending is 0.1% below the peak in November 2024.
The second graph shows the year-over-year change in construction spending.On a year-over-year basis, private residential construction spending is up 3.1%. Private non-residential spending is up 1.8% year-over-year. Public spending is up 5.9% year-over-year.
This was below consensus expectations; however, spending for the previous two months was revised up.
