Overall construction spending dipped ever so slightly in January 2012, decreasing 0.1% from the previous month’s estimate of $827.6 billion, according to the U.S. Commerce Department. In year-over-year figures, activity rose 7.1%, however.
Spending on private residential construction rose 1.8% in January 2012 compared with December. Single-family homes registered $113.9 billion, a 2.5% monthly increase. New multi-family activity rose to $16.2 billion, a 0.7% increase compared with the previous month.