Date: March 3, 2008
Source: US Commerce Department
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2008 was estimated at a seasonally adjusted annual rate of $1,121.5 billion, 1.7 percent (±1.1%) below the revised December estimate of $1,140.4 billion. The January figure is 3.3 percent (±2.1%) below the January 2007 estimate of $1,160.2 billion.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 2.2 percent (±1.1%) below the revised December estimate of $845.7 billion. Residential construction was at a seasonally adjusted annual rate of $455.8 billion in January, 3.0 percent (±1.3%) below the revised December estimate of $469.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $371.6 billion in January, 1.2 percent (±1.1%) below the revised December estimate of $376.0 billion.
Public Construction
In January, the estimated seasonally adjusted annual rate of public construction spending was $294.1 billion, 0.2 percent (±1.8%)* below the revised December estimate of $294.7 billion. Educational construction was at a seasonally adjusted annual rate of $85.9 billion, 0.6 percent (±3.5%)* above the revised December estimate of $85.4 billion. Highway construction was at a seasonally adjusted annual rate of $77.5 billion, 1.3 percent (±4.3%)* below the revised December estimate of $78.5 billion.
February 2008 data will be released on April 1, 2008 at 10:00 A.M. EDT.
For more detailed data and methodologies, go to our website: www.census.gov/constructionspending.
Explanatory Notes
In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take 2 months to establish an underlying trend for total construction and as long as 8 months for specific categories of construction. The statistics in this release are estimated from several sources and surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimates of the standard errors are provided in Table 3. Whenever a statement such as "2.3 (±3.1) percent above" appears in the text, this indicates the range (-0.8 to +5.4 percent) in which the actual percent change is likely to have occurred. All ranges given are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. Statistics for the current month are preliminary estimates subject to revision in following months as additional data become available. The average absolute percent changes from preliminary estimate to first revision for the major seasonally adjusted components are as follows: total construction, 0.5 percent; private construction, 0.6 percent; and public construction, 0.7 percent.
US Data: Construction Spending - Current Dollar Pct Chg, NSA Release for: January 2008 Source: U.S. Department of Commerce Pct changes from previous month, current dollar (unadj. rounded levels) Type of construction Jan-08 Dec-07 Nov-07 Oct-07 Sep-07 Total Construction -10.6 -10.7 -5.7 -2.3 -4.6 Residential -13.9 -13.9 -7.8 -3.8 -9.7 Nonresidential -8.4 -8.4 -4.1 -1.1 -0.2 Lodging -2.9 -3.0 1.8 2.2 4.9 Office -0.7 -7.2 -3.4 0.5 3.0 Commercial -5.2 -12.5 -4.9 -0.2 0.5 Health care -2.9 -5.6 -1.8 1.4 3.0 Educational -4.5 -9.2 -2.1 -4.8 -11.4 Religious -4.7 -8.6 -8.1 -5.9 2.6 Public safety -7.5 -8.3 5.4 -4.6 9.2 Amusement,recreation -6.3 -7.6 -3.5 -5.4 3.1 Transportation -13.6 -10.0 -3.6 0.5 2.6 Communication -23.0 5.4 -3.4 20.0 -10.5 Power -7.2 -1.6 2.0 -2.1 8.8 Highway,street -21.8 -25.9 -17.0 -5.7 -0.9 Sewage,waste disposal -8.8 -13.1 -5.4 0.6 1.1 Water supply -5.9 -11.5 -13.0 -0.9 1.5 Conservation,development -9.2 6.8 3.3 -23.7 33.3 Manufacturing -14.0 9.5 6.3 3.8 4.0 Total Private (1) -10.8 -9.5 -5.1 -1.1 -5.7 Residential -14.0 -14.0 -8.0 -3.6 -9.8 Nonresidential -7.1 -3.8 -1.2 2.5 1.1 Lodging -3.0 -2.8 1.9 4.0 4.0 Office -0.4 -7.7 -3.2 2.8 2.6 Commercial -5.4 -12.6 -5.4 0.8 0.1 Health care -3.1 -4.5 -2.5 2.0 1.3 Educational -1.0 -4.6 -4.3 -0.1 -8.2 Religious -5.6 -8.2 -8.1 -5.6 2.1 Amusement,recreation -2.0 -3.7 0.7 1.8 0.3 Transportation -12.0 -5.1 3.9 2.7 2.3 Communication -23.0 5.5 -3.3 20.2 -11.0 Power -8.7 -0.1 3.9 -4.1 8.6 Manufacturing -14.4 10.0 6.3 4.3 3.8 Total Public (2) -10.2 -14.1 -7.4 -5.4 -1.5 Residential -8.3 -3.4 3.9 -13.6 -1.5 Nonresidential -10.2 -14.3 -7.6 -5.2 -1.5 Office -2.0 -4.4 -4.7 -10.8 5.0 Commercial 0.0 -11.4 10.0 -22.4 9.4 Health care -2.4 -10.7 1.5 -1.3 11.0 Educational -5.3 -10.1 -1.6 -5.8 -12.0 Public safety -7.9 -8.2 5.9 -4.6 9.0 Amusement,recreation -10.7 -11.0 -7.2 -10.8 5.2 Transportation -14.4 -11.9 -6.3 -0.3 2.8 Power 0.4 -8.5 -6.0 7.1 10.0 Highway,street -22.1 -25.9 -17.1 -5.7 -0.9 Sewage,waste disposal -8.6 -13.2 -6.1 0.7 1.4 Water supply -6.3 -11.3 -12.5 -1.6 1.7 Conservation,development -9.0 6.6 3.3 -23.6 35.9 (1) Also includes public safety, highway and street, sewage and waste disposal, water supply, and conservation and development. (2) Also includes lodging, religious, communication, and manufacturing.
For more information, contact:
Michael Davis, Linnet Holland, or John Tremblay
(301) 763-1605
| Yearly Construction Figures | |||
| Type of Construction | 2007r | 2006 | Percent change |
| Total Construction | 1,161,742 | 1,192,238 | -2.6 |
Residential |
532,523 | 647,416 | -17.7 |
Nonresidential |
629,219 | 544,822 | 15.5 |
| Total Private Construction 1 | 875,010 | 937,047 | -6.6 |
Residential |
525,443 | 641,332 | -18.1 |
Nonresidential |
349,566 | 295,715 | 18.2 |
| Total Public Construction2 | 286,733 | 255,191 | 12.4 |
Residential |
7,080 | 6,084 | 16.4 |
Nonresidential |
279,653 | 249,108 | 12.3 |
| NA Not Applicable r Revised | |||
|
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| Monthly Construction Figures | |||||||
| Percent change Jan 2008 from - |
|||||||
| Type of Construction | Jan | Dec | Nov | Oct | Sep | Jan | Dec |
| 2008p | 2007r | 2007r | 2007 | 2007 | 2007 | 2007 | |
| Total Construction | 1,121,480 | 1,140,416 | 1,155,995 | 1,157,538 | 1,168,336 | 1,160,242 | -1.7 |
Residential |
462,835 | 476,788 | 489,175 | 496,951 | 516,080 | 574,049 | -2.9 |
Nonresidential |
658,645 | 663,628 | 666,820 | 660,587 | 652,256 | 586,193 | -0.8 |
| Total Private Construction1 | 827,351 | 845,714 | 856,427 | 859,083 | 874,098 | 884,379 | -2.2 |
Residential |
455,753 | 469,723 | 482,029 | 490,023 | 509,048 | 567,526 | -3.0 |
Nonresidential |
371,598 | 375,991 | 374,398 | 369,059 | 365,050 | 316,853 | -1.2 |
| Total Public Construction2 | 294,129 | 294,701 | 299,568 | 298,456 | 294,239 | 275,863 | -0.2 |
Residential |
7,082 | 7,065 | 7,146 | 6,928 | 7,032 | 6,523 | 0.2 |
Nonresidential |
287,047 | 287,637 | 292,423 | 291,528 | 287,206 | 269,339 | -0.2 |
| pPreliminary rRevised | |||||||
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