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U.S. Construction Spending – JAN 2022 Report
United States Of America – The Construction Spending report was released today. Construction seems to be hanging in there, though, regional seasonally slow areas most likely are mellowing gains. Total Construction spending in January 2022 is expected to be $1,677.2 billion, up 1.3 percent (0.8 percent) from the revised December estimate of $1,655.8 billion. The January amount is 8.2% (1.2%) higher than the January 2021 projection of $1,549.8 billion.
Public spending seems to be having low momentum. Most likely resulting from both seasonal slowing and the calm before the storm of Infrastructure work coming in. It is anticipated especially with Ukraine that Public Construction Spending will increase rapidly in 2022 and beyond. Current votes within the government are expected to move faster including appropriations and procurement.
Private Construction
Private construction spending was at a seasonally adjusted annual pace of $1,326.5 billion, which was 1.5 percent (0.5 percent) higher than the revised December estimate of $1,307.1 billion.
In January, the seasonally adjusted annual rate of residential building was $829.4 billion, up 1.3 percent (1.3 percent)* from the revised December estimate of $819.0 billion.
In January, nonresidential construction was at a seasonally adjusted annual pace of $497.2 billion, up 1.8 percent (0.5 percent) from the revised December estimate of $488.2 billion.
Public Construction
The anticipated seasonally adjusted annual rate of public construction spending in January was $350.7 billion, which was 0.6 percent (1.5 percent)* higher than the revised December estimate of $348.7 billion.
The seasonally adjusted annual rate of educational construction was $80.9 billion, essentially unchanged from the revised December estimate of $81.0 billion (1.8 percent).
Highway building was at a seasonally adjusted annual pace of $105.3 billion, which was 0.1 percent (4.1%*) lower than the revised December estimate of $105.5 billion.
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