U.S. Construction Spending Up Month-Over-Month and Year-Over-Year in January 2022

On Tuesday (3-1-22), the U.S. Census Bureau reported that total construction spending during January 2022 was estimated at a seasonally adjusted annual rate (SAAR) of $1,677.2 billion, 1.3% above the revised December estimate of $1,655.8 billion. The January figure is 8.2% above the January 2021 estimate of $1,549.8 billion.

Private construction spending was at a SAAR of $1,326.5 billion, 1.5% above the revised December estimate of $1,307.1 billion. Residential construction was at a SAAR of $829.4 billion in January, 1.3% above the revised December estimate of $819.0 billion. No residential construction was at a SAAR of $497.2 billion in January, 1.8% above the December revised estimate of $488.2 billion.

In January, the estimated SAAR of public construction spending was $350.7 billion, which is 0.6% above the revised December estimate of $348.7 billion. Educational construction was at SAAR of $80.9 billion in January, virtually unchanged from the revised December estimate of $80.9 billion. Highway construction.