US construction spending up 1.3 percent in January

  • News Digest

Mar 15, 2019-

Spending on US construction projects in January posted the biggest gain in nine months, as strength in non-residential construction and government projects offset continued weakness in home construction. The Commerce Department says that construction spending rose 1.3 percent in January following two months of declines. It was the biggest gain since spending was up 1.7 percent in April. Spending on residential projects fell 0.3 percent in January, the sixth consecutive monthly decline for a sector that was hurt last year by rising mortgage rates and higher home building costs. Spending on non-residential construction increased 0.8 percent in January. (AP)

Published: 15-03-2019 11:50

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