Thursday, March 1, 2012

Construction Spending Fell 0.1% in January

Construction spending in January was $827 billion, falling 0.1% from the upwardly revised December growth. This is the first decline in five months. January construction spending remained 7.1% above year ago levels in January 2011.

Public construction spending led the decline, falling 0.2% from December. Total private construction stayed constant from December, as non-residential spending declines were offset by the increases in residential spending.

January’s data highlights the slow pace of recovery and suggests the private residential construction recovery has begun to outpace the recovery of private non-residential and public spending.

Read the full report.

No comments:

Post a Comment

Please read our comment policy before making a comment.