The Department of Commerce said construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent below the revised December estimate of $889.6 billion. The January figure is 9.3 percent below the January 2009 estimate of $974.3 billion.

Spending on private construction was at a seasonally adjusted annual rate of $577.3 billion, 0.6 percent below the revised December estimate of $580.7 billion. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in January, 1.3 percent above the revised December estimate of $257.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $316.4 billion in January, 2.1 percent below the revised December estimate of $323.2 billion.

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