Private Construction Down in January

Nonresidential construction was at a seasonally adjusted annual rate of $244.4 billion in January, 6.9 percent below the revised December estimate of $262.7 billion.

Spending on private construction was at a seasonally adjusted annual rate of $490 billion, 1.2 percent below the revised December estimate of $495.9 billion. Residential construction was at a seasonally adjusted annual rate of $245.6 billion in January, 5.3 percent above the revised December estimate of $233.2 billion. Construction needs to lead the way to economic recovery, especially in the landscape industry.

- Courtesy of Economics & Statistics Administration