Private and Public Construction Spending Increased

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Posted To: MND NewsWire

Construction spending in ticked up in January to a seasonally adjusted annual rate of $1.280 trillion according to data released by the Census Bureau on Wednesday. The rate was 1.3 percent higher than the December estimate of $1.263 million and 0.3 percent higher than the pace in January 2018. On a non-adjusted basis, the amount spent by both private and public entities was $88.086 billion compared to $95.191 billion in December and $88.504 billion the prior January, an annual decline of 0.5 percent. Expenditures on construction throughout 2018 totaled $1.293 trillion compared to $1.246 trillion for all of 2017. This was an increase of 3.8 percent. The largest single non-residential expenditure during the year was for construction related to power, $100.180 billion. Privately funded construction…(read more)

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