Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending fell in January to $614.2 billion, a 2.6 percent decrease from the upwardly revised December estimate of $630.9 billion. However, January’s results are 12.2 percent higher on a year-over-year basis. Residential construction spending was essentially unchanged over the month, at $304.6 billion. Growth in new multi-family construction spending slowed to 1.7 percent in January, but is still up 54.9 percent year-over-year. New single-family construction posted a monthly gain of 3.6 percent. Private nonresidential construction spending fell sharply to $309.7 billion, a 5.1 percent decrease from the revised December estimate of $326.2 billion. The power sector dropped 14.5 percent over the month, and the transportation sector posted its third straight month of declines, falling 1 percent since December.