US Construction Fell in January

U.S. construction spending unexpectedly fell in January as the biggest drop in public outlays since 2002 offset gains in investment in private projects, pointing to moderate economic growth in the first quarter.

The Commerce Department said on Wednesday that construction spending declined 1.0 percent to $1.18 trillion. Construction spending in December was revised to show a 0.1 percent increase rather than the previously reported 0.2 percent decline.

Economists polled by Reuters had forecast construction spending gaining 0.6 percent in January. Construction spending increased 3.1 percent from a year ago.
In January, public construction spending tumbled 5.0

In January, public construction spending tumbled 5.0 percent, the largest drop since March 2002. That followed a 1.4 percent decline in December. Public construction spending has now decreased for three straight months.

Outlays on state and local government construction projects dropped 4.8 percent, also the biggest drop since March 2002.
Spending on state and local government construction projects has

Spending on state and local government construction projects has dropped for three straight months. Federal government construction spending plummeted 7.4 percent, the largest decline since May 2014. The drop snapped three consecutive months of gains.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza