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March 01, 2024US CONSTRUCTION SPENDING, JANUARY 2024 Month over month (January 2024 vs December 2023), seasonally adjusted annual rate)
US construction spending decreased 0.2% to $2,102.4 billion. Total residential construction increased 0.2% to $912.2 billion. Total non-residential construction spending decreased 0.4% to $1,190.2 billion.
Private sector construction increased 0.1% to $1,623.4 billion. Private residential construction increased 0.2% to $900.8 billion, while private non-residential construction spending decreased 0.1% to $722.6 billion.
Public sector construction decreased 0.9% to $479.0 billion. Public residential construction increased 1.9% to $11.4 billion, while public non-residential construction spending decreased 1.0% to $467.6 billion.
Year-over-year (January 2024 vs January 2023)
US construction spending was up 11.7%. Total residential construction was up 5.4%
- Total non-residential construction was up 17.1%
- Private sector construction was up 9.5%
- Public sector construction was up 20.1%.
Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis using a FRED API.
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