Construction spending during January 2016 was at a seasonally adjusted annual rate of $1,140.8 billion, 1.5 percent higher than the December 2015 rate of $1,123.5 billion and 10.4 percent higher than the January 2015 rate of $1,033.3 billion, according to U.S. Census Bureau data.
Spending on private construction was at a seasonally adjusted annual rate of $831.4 billion, a 0.5 percent increase above the December 2015 rate of $827.3 billion. Residential construction was at a seasonally adjusted annual rate of $433.2 billion, identical to the rate in December 2015.
The seasonally adjusted annual rate for spending on public construction in January was $309.4 billion, 4.5 percent higher than the December 2015 rate of $296.2 billion.
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