By Canadian Press

US construction spending up strong 1.3 per cent in January

Mar 13, 2019 | 8:16 AM

WASHINGTON — Spending on U.S. construction projects in January posted the biggest gain in nine months, as strength in nonresidential construction and government projects offset continued weakness in home construction.

The Commerce Department says that construction spending rose 1.3 per cent in January following two months of declines. It was the biggest gain since spending was up 1.7 per cent in April. Spending on residential projects fell 0.3 per cent in January, the sixth consecutive monthly decline for a sector that was hurt last year by rising mortgage rates and higher home building costs.

Spending on nonresidential construction increased 0.8 per cent in January with spending on office buildings, hotels and the category that covers shopping centres all showing gains.

Spending on government projects jumped 4.9 per cent, the biggest increase in nearly 15 years.

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