{"id":15724,"date":"2016-03-04T16:28:40","date_gmt":"2016-03-04T21:28:40","guid":{"rendered":"http:\/\/www.constructionspecifier.com\/?p=15724"},"modified":"2016-03-04T16:28:40","modified_gmt":"2016-03-04T21:28:40","slug":"construction-spending-soars-in-january","status":"publish","type":"post","link":"https:\/\/www.constructionspecifier.com\/construction-spending-soars-in-january\/","title":{"rendered":"Construction spending soars in January"},"content":{"rendered":"
\"Despite
Despite economic concerns, construction spending in January grew to $1.141 trillion.<\/span>
Photo \u00a9 Bigstock.com\/Sheri Armstrong<\/span><\/figcaption><\/figure>\n

Associated General Contractors (AGC) of America released a recent analysis stating the multi-family, private non-residential, and public sectors of construction spending experienced strong growth in January.<\/p>\n

\u201cThere were solid gains for both the month and year in apartment, non-residential, and highway construction,\u201d said AGC\u2019s chief economist, Ken Simonson. \u201cAlthough favorable weather may have boosted these results, demand for many types of projects remains strong despite worries the overall economy has slowed.\u201d<\/p>\n

Construction spending in January totaled $1.141 trillion at a seasonally adjusted annual rate. This is 1.5 percent higher than December 2015 and 10.4 percent higher than January of last year. AGC officials said these new spending figures indicate a strong demand for construction despite broader economic concerns.<\/p>\n

Nearly every sector increased from 12 months before:<\/p>\n