Construction Spending Dips 1.7% to $1.121 Trillion

Spending on construction projects fell 1.7% to an annual rate of $1.121 trillion in January as private construction decreased 2.2%, and public construction slid 0.2%, according to Commerce Department figures released yesterday.

The overall decrease, which was larger than the 0.7% decrease projected by IFR Markets, followed a revised December decrease of 1.3% to $1.140 trillion.

 

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