Construction Spending Down Despite Increase in Single Family

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Posted To: MND NewsWire

Construction spending stalled in January. Publicly funded spending rose slightly from December but that was offset by reductions in most areas of private construction . Residential construction did remain in the black, due to a slight increase in single-family building. Total construction spending was at a seasonally adjusted annual rate of $1.263 trillion, essentially unchanged from December. The figure was an increase of 3.2 percent compared to January 2017. On an unadjusted basis the value of construction put in place dropped from $96.200 billion in December to $86.912 billion in January. The monthly decline was shared by every construction category. Privately funded construction dollars spent were at a seasonally adjusted rate of $962.733 billion, a -0.5 percent change from December, but…(read more)

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