News

Construction Spending Nears Decade-Long Low in January

Construction spending slumped 0.7 percent from $798 billion in December to $792 billion in January, the second-lowest seasonally adjusted annual rate since July 2000, the Associated General Contractors of America noted today in an analysis of new Census Bureau data. Association officials noted that nearly every private nonresidential category plunged, offsetting pickups in some residential and public nonresidential segments. They added that since January 2010, construction spending has declined by 5.9 percent. Read full press release here.