Construction Spending Flat at $1.263 Trillion in January
Arlington, VA, March 2, 2018-Construction spending in January essentially matched the upwardly revised December record level of $1.263 trillion at a seasonally adjusted annual rate, according to an analysis of new government data by the Associated General Contractors of America.
The January total exceeded the year-earlier level by 3.2%.
For the month, private nonresidential construction spending rose 0.3%, private residential spending declined 1.5%, and public construction spending gained 1.8%. On a year-over-year basis, private residential construction spending increased 4.2%, private nonresidential spending slipped 1.1%, and public construction spending jumped 8.2%.