Updated: 23-Mar-26 10:24 ET
| January Construction Spending |
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| Updated: 23-Mar-26 10:24 ET |
Highlights
- Construction spending decreased 0.3% month-over-month in January (Briefing.com consensus: 0.1%) following an upwardly revised 0.8% increase (from 0.3%) in December.
- On a year-over-year basis, construction spending was up 1.0%.
Key Factors
- Total private construction was down 0.6% month-over-month in January, while total public construction increased 0.6% month-over-month.
- Total residential spending fell 0.8% month-over-month, while nonresidential spending was flat.
- In private construction, residential spending slumped 0.8%, with new single-family construction down 0.2% and new multifamily construction down 0.7%. Nonresidential spending declined 0.4%, led by a 2.0% decline in manufacturing spending.
- In public construction, nonresidential spending increased 0.6% month-over-month, with highway and street spending up 3.3%.
Big Picture
- The key takeaway from the report is that the weakness was paced by a decline in private residential spending, which is believed to be a knock-on effect of labor constraints and higher interest rates.
| Category | JAN | DEC | NOV | OCT | SEP |
| Nominal (Current) Dollars | |||||
| Total Construction | -0.3% | 0.8% | 0.6% | -0.1% | -0.4% |
| Private | -0.6% | 1.0% | 0.7% | -0.1% | -0.7% |
| Residential | -0.8% | 2.5% | 1.6% | -0.1% | -1.4% |
| Nonresidential | -0.4% | -0.8% | -0.4% | -0.1% | 0.1% |
| Public | 0.6% | -0.1% | 0.3% | -0.1% | 0.8% |
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