AGC: Nonres Construction Spending Makes Modest Gain in January

Nonresidential construction spending expanded for the first time in seven months, according to a new analysis of January federal construction data by the Associated General Contractors of America. Total construction spending was $1.52 trillion in January, up 1.7% from December and 5.8% from January 2020.

Combined private and public nonresidential construction spending climbed 0.9% from December, but remained 5.0% below the year-ago level, said AGC. Residential spending, which has been strong throughout the pandemic, climbed 1.7% from December and was up 21% year-over-year.