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Construction Spending Down 0.6% in January

Total construction spending dropped 0.6% in January. This is the net of the still slowly declining trend in overall construction spending, a second month of unseasonably bad construction weather and the usual monthly flip-flop in residential remodeling spending, this time a large increase. Currently the underlying declining trend is likely less than 0.6%/month, probably 0.3-0.5%/month. Later data revisions may restore this trend to the reported data for the last few months. But not next month. February weather was again unseasonably poor for outside construction work. So the next report will likely show another decline in the 0.5-1.05 range plus or minus whatever random change is reported for residential remodeling.

While weather is responsible for the recent string of larger …

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US Construction Projects

Commercial Projects (total value)
Pre-Bid Phase: $1,284,564,495,881
Bid Phase: $25,260,591,936
Post-Bid Phase: $1,777,087,465,574
Civil Projects (total value)
Pre-Bid Phase: $141,705,717,018
Bid Phase: $13,469,680,558
Post-Bid Phase: $519,772,354,593
View US Projects

Canadian Construction Projects

Commercial Projects (total value)
Pre-Bid Phase: $475,943,614,533
Tender Phase: $5,522,785,000
Post-Bid Phase: $44,230,437,018
Civil Projects (total value)
Pre-Bid Phase: $125,804,791,130
Tender Phase: $791,887,400
Post-Bid Phase: $49,769,614,312
View Canadian Projects

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