US Construction Spending Up 7.1% Year-over-year
In yet another sign that the US economic recovery is, indeed, happening, the US Census Bureau reported today that construction spending in the US was up 7.1% in January when compared with January of last year. Sequentially, however, the news…
In yet another sign that the US economic recovery is, indeed, happening, the US Census Bureau reported today that construction spending in the US was up 7.1% in January when compared with January of last year. Sequentially, however, the news is less encouraging. Spending in January was -0.1% lower than in December.
Private residential construction rose 1.8% sequentially to $253.6 billion, while private non-residential construction fell -1.5% to $285 billion.
In the public sphere, spending fell -0.2% sequentially to $288.3 billion. Spending on educational facility construction fell -0.9% sequentially and highway construction fell -0.2%.
Total construction spending for January was $827 billion, compared with $772 in January 2011 and $827.6 billion in December 2011.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
