Watchdog – January Construction Spending Rose 1.5%

Construction spending rose 1.5% in January to a seasonally adjusted annual rate of $1.14 billion, according to the Commerce Department report released today. This is the biggest gain since May and pushes total spending to the highest level in more than eight years. The gain was lead by non-residential construction spending.

Watchdog Numbers

Nonresidential spending was 2.5% higher for the month and 12.3% higher for the year. These are much welcomed numbers as December’s results were a disappointment to economists. In December overall construction ( public, private commercial / residential )  spending only increased by .1% and fell way below the expected .6%.

Related: Construction Industry Remains Optimistic in 2016

 

Stephen Fean
Stephen Fean is the Vice President of Business Development at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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