Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose in January to $670.8 billion, 0.5 percent above the upwardly revised December estimate of $667.5 billion. January’s results are 12.3 percent higher on a year-over-year basis. Residential construction spending rose 1.1 percent over the month to $359.9 billion. New single-family construction led the monthly increase (rising 2.3 percent) and is up 21.0 percent since last January. New multi-family construction spending grew 1.0 percent in January and is up 28.0 percent year-over-year. Private nonresidential construction spending was at $310.9 billion, 0.2 percent below the revised December estimate of $311.5 billion. Eight of the eleven nonresidential construction sectors saw month-to-month declines in spending with the power sector posting the largest monthly decline of 5.0 percent. The communication sector registered the largest monthly increase of 18.2 percent.