Nonresidential construction down slightly in January; still up over 2011
Nonresidential construction spending slipped 0.8 percent in January to $566.4 billion, according to a March 1 report from the U.S. Department of Commerce, as reported in a same-day article from Associated Builders and Contractors Inc. Despite the month-to-month decline, nonresidential construction spending for January was up 7.9 percent compared to January 2011.
By segment, private nonresidential construction fell 1.5 percent in the month, but was up 16.6 percent from January 2011. Public construction was down 0.1 percent for January, but was up 0.4 percent year-over-year.