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by CareyBot

Residential construction was at a seasonally adjusted annual rate of about $649.9 billion in January, or 0.1 percent above the revised December estimate and 6.5 percent above the January 2005 rate, the U.S. Census Bureau of the Department of Commerce announced today. Total construction spending during January 2006 was estimated at a seasonally adjusted annual rate of about $1.16 trillion, or 0.2 percent above the revised December estimate and 7.4 percent above the January 2005 estimate. The seasonally adjusted annual rate is a projection of a monthly total over a 12-month period, adjusted for seasonal variations in construction activity. Spending on private construction was at a seasonally adjusted annual rate of about $906.9 billion, or 0.2 percent above the revised December estimate an...