Construction spending increased 1.8% to $1.36 trillion in January, according to the U.S. Census Bureau. Compared with January 2019, total construction spending increased 6.8%.
Residential construction spending was up 2.0% compared with December, and up 9.2% year-over-year. Nonresidential spending grew 1.6% from December and 5.1% year-over-year.
Total private construction increased 1.5% from December and 4.9% year-over-year; total public construction increased 2.6% compared with December and surged 12.6% year-over-year.
The full construction spending report for January can be found here.
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