Steel Markets
March 4, 2014
Construction Spending Rises in January
Written by Sandy Williams
Construction spending in January rose 9.3 percent year-over-year to a seasonally adjusted annual rate of $943 billion, according to data released by the US Census Bureau. Construction spending was 0.1 percent higher than the revised SAAR of $941.9 billion in December 2013.
Private construction spending rose 0.5 percent to a SAAR of $670.8 billion from the revised December estimate of $667.5 billion. Residential construction spending rose 1.1 percent and non residential spending edged down 0.2 percent from SAAR estimates in December 2013, but when compared on a year-over-year basis rose 15 percent and 9.7 percent, respectively.
