Analysis
March 23, 2026
Construction spending down marginally in January
Written by David Schollaert
Construction spending edged down slightly in January, slipping for the first time in three months.
The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,190 billion in January, down 0.3% from December’s downwardly revised rate. The January figure is 1% higher than a year ago.
January’s result, despite the slight erosion, remains the second-best total in over six years, according to Census data.
Private builds
Overall, private construction outlays were $1,661 billion at a seasonally adjusted annual rate. That’s about 0.6% below the revised December estimate, the report said. Residential construction spending slipped 0.8% month over month to $933 billion, while nonresidential construction outlays were virtually flat at $728.2 billion in January.
Public projects
Public construction spending was 0.6% higher in January to $529.2 billion. Highway construction contributed to the gain, improving 3.3% to $148.5 billion in January, while educational construction lagged, slipping 0.2% to $114.4 billion.
The chart below shows a rise in spending in recent years, particularly in nonresidential investment.
