Tuesday, March 1, 2011

Construction Spending Falls 0.7% – Residential Up, Non-Residential Down

New construction spending fell for the second straight month in January, dropping 0.7% on a seasonally adjusted basis. These two months followed a brief period of modest construction spending growth. The month’s decline was due to a sharp drop in non-residential construction, which fell 6.9%over the month. In contrast, residential spending increased by 5.3%. Public sector spending, which had been declining in recent months, posted a modest increase of 0.1%.

On a year-ago basis, total construction spending was 5.9%lower. Private residential spending was down 7.7%, and private non-residential spending was down% percent. Public sector spending was up 2.7%from a year earlier.

m/m % changeJanDecNovOctSepAug
    Private Residential5.3-
    Private Non Res.-6.9-

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