Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
3/1/2016 10:45:00 AM Write a Letter to the Editor Write a letter to the Editor

Construction Spending in January Exceeds Expectations


ODOT/Flickr

Here’s one key takeaway from the Commerce Department’s report March 1 on construction spending.

Outlays surged a greater-than-expected 1.5% in January after an upwardly revised 0.6% advance (prior was 0.1%) a month earlier — a combination that will help spur first-quarter gross domestic product.

• January gain was biggest since May and brought the value of construction put in place to highest level since October 2007.

• Government-funded construction projects jumped 4.5%, the most since October 2014, led by a surge in work on highways and streets.

• Value of public construction is highest since September 2010.

• Private construction was up 0.5%, reflecting a 1% rebound in nonresidential projects that included more work on power plants and factories. Homebuilding was little changed.

By Bloomberg News


Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2016, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement