Construction Spending Falls Below Expectations

Construction across the U.S. during January was at a seasonally adjusted annual rate of $1.163 trillion, two tenths of a percentage point above December 2005's revised rate of $1.161 trillion, the U.S. Commerce Department reported March 1.

However, economists generally expected construction spending to increase a full percentage point in January, five times its actual gain.

Private construction spending was at a seasonally adjusted annual rate of $906.9 billion in January, two tenths of a percentage point higher than the revised December 2005 rate of $905.3 billion.

Public construction was at a seasonally adjusted annual rate of $256.5 billion in January, two tenths of percentage point above December 2005's revised rate of $255.9 billion.

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