bee Calculated Risk On 3/03/2025 10:17:00 AM
From the Census Bureau Reported That Overall Construction Spending Decreased:
Construction Spending during January 2025 was estimated at a seasonally Adjusted Annual Rate of $ 2,192.5 Billion, 0.2 percent below The Revised December estimate of $ 2,196.0 billion. The January Figure is 3.3 percent above the January 2024 estimate of $ 2,122.2 billion.
Emphasis added
Private Spending Decreased and Public Spending Increased:
Spending on Private Construction was at A Seasonally Adjusted Annual Rate of $ 1,686.0 Billion, 0.2 Percent below the Revised December estimate of $ 1.690.1 billion. …
In January, the estimated seasonally adjusted annual rate of public construction spending was $ 506.6 billion, 0.1 percent above the revised December estimate of $ 505.9 Billion.
Click on graph for larger image.
This graph shows Private Residential and NonResidential Construction Spending, and Public Spending, Since 1993. Note: Nominal dollars, not inflation adjusted.
Private Residential (Red) Spending is 4.9% below the Peak in 2022.
Private Non-Presidential (Blue) spending is at a new peak.
Public Construction Spending is 0.1% below the Peak in November 2024.
The second graph shows the year-over-year change in construction spending.
On a year-over-year base, Private Residential Construction Spending is UP 3.1%. Private non-presidential spending is up 1.8% year-over-year. Public Spending is UP 5.9% year-over-Year.
This was below consensus expectations; However, spending for the previous two months was revised up.