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Construction Spending Sees Slight Increase03-01-06 | News

Construction Spending Sees Slight Increase

WASHINGTON D.C. ?EUR??,,????'??+ Construction spending was estimated at a seasonally adjusted annual rate if $1.163 billion, the Commerce Department reported Wednesday.

The January rate is 0.2 percent above the revised December estimate of 1.161 billion and 7.4 percent above the January 2005 estimate of 1.084 billion.

Spending on private construction was at a seasonally adjusted annual rate of $907 billion, 0.2 percent above the revised December estimate of $905.3 billion. Residential construction was at a seasonally adjusted annual rate of $649.9 billion in January, 0.1 percent above the revised December estimate of $649.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $257 billion in January, 0.5 percent above the revised December estimate of $255.8 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $256.5 billion, 0.2 percent above the revised December estimate of $255.9 billion. Educational construction was at a seasonally adjusted annual rate of $67.6 billion, 0.8 percent below the revised December estimate of $68.1 billion. Highway construction was at a seasonally adjusted annual rate of $68.9 billion, 0.9 percent above the revised December estimate of $68.3 billion.