Construction Spending Falls To Lowest Level In Seven Years, Driven By Nonresidential And Public Construction Declines

摘要

Construction spending in January fell by $5.5 billion to $884 billion, its lowest level since June 2003, according to an analysis of new federal figures by the Associated General Contractors of America. Declining investments in private-sector non-residential construction and public construction at all levels of government drove the 0.6 percent decline, the association's chief economist Ken Simonson noted.