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U.S. construction spending unchanged in January

Xinhua,March 02, 2018 Adjust font size:

WASHINGTON, March 1 (Xinhua) -- Spending on U.S. construction projects was unchanged in January, with a surge in public spending offset by a decline in private sectors, said the Commerce Department on Thursday.

Construction spending during January was estimated at a seasonally adjusted annual rate of 1,262.8 billion U.S. dollars, nearly the same as the revised December figure. The figure in January was 3.2 percent higher compared with the same period of last year.

Spending on private construction fell 0.5 percent in January, while public construction spending jumped 1.8 percent to the highest level since August 2015, said the department.

Spending on highway and road building rose 4.4 percent while construction of schools increased 2.1 percent. Enditem

 

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