News

Construction Spending in January Rises From Year Earlier, but Slips from December; Most Private Segments Post Strong Year-Over-Year Gains

Construction spending rose modestly in January from year-earlier levels despite retreating from a six-year high in December, according to an analysis by the Associated General Contractors of America.  Association officials cautioned, however, that those spending gains could be at risk if Congress and the Obama administration fail to address highway funding shortfalls that once again threaten a new road repair season.

"Construction continues to expand overall but with a lot of variability by month and segment," said Ken Simonson, the association's chief economist. "The generally positive trends are obscured by an unreliable estimate for residential improvements which purportedly shows a huge downturn that is inconsistent with other data.”

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