Construction spending for January 2023
- Prior month -0.4% revised to -0.7%
- construction spending for January -0.1% versus -0.7% last month
- total construction spending came in at $1825.7 billion versus $1827.5 billion in December
- private construction 0.0% % versus -0.4% last month
- residential construction -0.6% vs -0.3% last month
- nonresidential construction 0.9% vs -0.5% last month
- Public construction -0.6% MoM
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Construction spending comes in weaker than expectations. The prior month was also revised lower