>Union Democrat | Sonora News, Sports, & Weather, Angels Camp, Twain Harte, Jamestown

News Classifieds Web
web powered by Web Search Powered by Google

Give Web site feedback

Send comments on the Union Democrat new website.

This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

HomearrowAP Nation / World

AP Nation / World

Mar 2, 10:46 AM EST

US construction spending down 1.1 percent in January


AP Photo
AP Photo/Tony Dejak
Business Video

Buy AP Photo Reprints

WASHINGTON (AP) -- U.S. construction spending fell in January, reflecting weakness in spending on office buildings and other nonresidential projects and in government activity.

Construction spending fell 1.1 percent in January following a revised 0.8 percent increase in December, the Commerce Department reported Monday.

Spending on home construction rose 0.6 percent but spending on nonresidential projects dropped 1.6 percent, reflecting declines in hotels, office buildings and the category that covers shopping centers. Spending on government projects also declined in January, falling 2.8 percent.

Private economists had predicted a small overall gain in January.

The unusually severe weather in many parts of the country in January could have had an impact activity. Economists expect the weakness will be temporary and are forecasting a rebound in activity once winter storms stop disrupting plans.

In January, spending on single-family homes rose 0.6 percent and spending on apartment buildings rose an even stronger 1.9 percent.

The weakness in nonresidential projects was led by a 5.7 percent drop in the category that covers shopping centers.

The 2.8 percent drop in spending on government projects followed a 1.7 percent rise in December.

Over the course of 2014, spending on offices, power plants, factories and hotels and motels climbed significantly, a potential sign of broader economic growth in 2015.

The solid gains helped boost job growth in the construction industry, which added nearly 3 million jobs in 2014, the most since 1999.

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

News
Local / Tuolumne / Calaveras / Sports / Business / Stocks / News or Record / State / Nation/World / Obituaries / Submit News / Sonora CA, News RSS Feed
Opinion
Editorials / Letters / Submit a letter
Photos
Union Democrat Photos / Community Photos / Sonora CA, News RSS Feed
Classifieds
Search Classifieds / Jobs / Autos / Homes / Rentals / Place an Ad / Sonora CA, News RSS Feed
Online Extras
Photo Reprints / Videos / Local Business Links / Community Links / Weather /
Union Democrat
About / Contact / Commercial Printing / Subscriptions / Terms of Use

© Copyright 2001 - 2008 Western Communications, Inc. All rights reserved. By Using this site you agree to our Terms of Use

UnionDemocrat.com works best with the latest versions of Mozilla Firefox, Microsoft Internet Explorer or Apple Safari