March 1, 2010
 
COMMERCE DEPT.: Construction Spending in U.S. Dropped 0.6% in January
Construction at $884.1 billion annual rate, 9.3% below January 2009 level
 
By David M. Kinchen
Huntingtonnews.net Real Estate Writer
 
The U.S. Census Bureau of the Department of Commerce said Monday, March 1, 2010 that construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion -- 0.6 percent below the revised December estimate of $889.6 billion. The January figure is 9.3 percent below the January 2009 estimate of $974.3 billion.
 
Spending on private construction was at a seasonally adjusted annual rate of $577.3 billion, 0.6 percent below the revised December estimate of $580.7 billion. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in January, 1.3 percent above the revised December estimate of $257.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $316.4 billion in January, 2.1 percent below the revised December estimate of $323.2 billion.
 
In January, the estimated seasonally adjusted annual rate of public construction spending was $306.9 billion, 0.7 percent below the revised December estimate of $308.9 billion. Educational construction was at a seasonally adjusted annual rate of $80.3 billion, nearly the same as the revised December estimate of $80.3 billion. Highway construction was at a seasonally adjusted annual rate of $83.5 billion, 1.2 percent above the revised December estimate of $82.6 billion.