Construction Spending Drops in January

U.S. construction spending fell 0.8 percent in January, according to monthly statistics released by the U.S. Census Bureau.

A 1.7 percent decrease in residential construction—the 10^th consecutive dip in spending—helped fuel January’s drop.

Spending in the nonresidential private construction sector did not see much change since December.

Public construction saw slightly better numbers in January. Total public construction spending was up 0.6 percent, including a 3.2 percent increase in highway construction. Education construction, however, declined by 2.6 percent.