Jan. Construction Spending Up 1.7%, Single-Family Up 3%

Over-all household paying out increased 2.5%, boosted in section by larger demand from customers for outer-urban locations exactly where builders have more land to acquire.

SILVER SPRING, Md. (AP) – Shelling out on U.S. construction tasks rose 1.7% in January as new home making carries on to carry the sector.

Final month’s boost adopted smaller, revised gains in December and November.

Paying on household development rose 2.5% in January, with one family members house initiatives up 3%, the Commerce Department described Monday.

Despite an financial state which is been battered for just about a yr since of the coronavirus pandemic, traditionally small fascination premiums and town dwellers seeking additional place in the suburbs and further than boosted dwelling revenue. Very last 7 days, the Commerce Section documented that revenue of new houses jumped 4.3% in January, and are 19.3% greater than they were being very last 12 months at this

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