Washington, DC, March 1, 2006—Spending on construction projects increased a lower-than-expected 0.2% in January, the Commerce Department said Wednesday.
It was the smallest growth in construction spending since June.
Outlays increased 1% in December.
Economists were expecting seasonally adjusted outlays to rise 1.3%, figuring that the warmest January on record would spur construction activity. Housing starts, for instance, increased 14.5% in January.
