Construction Spending Dips 0.1 Percent In January As Drop In Homebuilding And Public Construction Outweigh Private Nonresidential Gains


Total construction spending decreased by 0.1 percent in January, as declines in single-family homebuilding and public construction offset marginal gains from private nonresidential construction, according to an analysis by the Associated General Contractors of America today of new federal data. Association officials said a lack of clear guidance from officials in Washington is delaying expenditures on much-needed infrastructure and energy projects.

“Laws enacted more than six months ago created unprecedented funding and tax credits for a wide range of transportation, environmental, energy and manufacturing projects,” said Ken Simonson, the association’s chief economist. “But few contractors have actually won contracts yet.”

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