The estimated seasonally adjusted annual rate of spending in January was $1.180 trillion, 0.8 percent below the December estimate of $1.189 trillion, Additionally, the January figure is 1.2 percent below the January 2006 estimate of $1.194 trillion.

Spending on private construction was at a seasonally adjusted annual rate of $894.3 billion, 1.2 percent below the revised December estimate of $905.1 billion. Residential construction was at a seasonally adjusted annual rate of $575.4 billion in January, 1.8 percent below the revised December estimate of $586.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $318.9 billion in January, nearly the same as the revised December estimate of $319 billion.