Arab Today, arab today us construction spending increases
Last Updated : GMT 08:50:37
Arab Today, arab today
Arab Today, arab today

US construction spending increases

Arab Today, arab today

Arab Today, arab today US construction spending increases

Washington - SPA

U.S. construction spending showed a small increase in January as strength in housing helped to offset declines in nonresidential building and government projects, the government said Monday.The Commerce Department said that construction spending edged up 0.1 percent in January, significantly slower than an upwardly revised 1.5 percent gain in December.Home building was up 1.1 percent in January with single-family construction rising 2.3 percent and apartment building up 1 percent.However, there was widespread weakness outside of housing. Non-residential construction fell 0.2 percent and office building was flat, with bad weather likely a factor in the weakness.Total government construction was down 0.8 percent in January compared with December. Construction spending totaled $943.1 billion in January at a seasonally adjusted annual rate.

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