Construction spending during January 2017 was estimated at a seasonally adjusted annual rate of $1,180.3 billion, 1.0 percent below the revised December estimate of $1,192.2 billion. The January figure is 3.1 percent above the January 2016 estimate of $1,144.9 billion.

Spending on private construction was at a seasonally adjusted annual rate of $911.6 billion, 0.2 percent above the revised December estimate of $909.4 billion. Residential construction was at a seasonally adjusted annual rate of $476.4 billion in January, 0.5 percent above the revised December estimate of $474.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $435.3 billion in January, nearly the same as the revised December estimate of $435.4 billion.