Construction spending during January 2013 was estimated at a seasonally adjusted annual rate of $883.3 billion, 7.1% above the January 2012 estimate of $824.7 billion, according to the U.S. Census Bureau of the Department of Commerce. However, spending was 2.1% below the revised December estimate of $902.6 billion.
The biggest losses in construction spending were in the private sector; the January 2013 seasonally adjusted rate for the private sector was $614.2 billion, a 2.6% decrease from spending in December 2012.
Construction spending by local, state and the federal government declined 1% since December 2012.
For more information on construction spending data and statistics please visit the U.S. Census Bureau. February 2013 data will be available April 1.