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USA:Construction Spending Up Moderately in January |
| Construction Spending Up Moderately in January HMR Custom News The value of construction put into place in the U.S. reached a seasonally adjusted annual rate of $876.7 billion in January. Statistics released Friday by the U.S. Census Bureau show a 1.4 percent increase in spending from December, which totaled $864 billion. January¡¯s construction value exceeded the figures for the ending month of the third-quarter 2001 by $24.8 billion, or 2.9 percent. Private construction spending on new housing units is reported at a SAAR of $283.9 billion in January. The amount is less than 1 percent higher than the previous month and 1.6 percent above the revised $279.3 billion for September 2001. The latest numbers available from the U.S. Census Bureau for expenditures on improvements and repairs of residential properties cover third-quarter 2001. The SAAR for total spending is reported at $157.2 billion, down 5 percent from revised estimate for second-quarter 2001. Of that total figure, the outlay was virtually unchanged for maintenance and repairs, but was off nearly 8 percent for improvements. The Census Bureau report divides expenditures for improvements into two subcategories: ¡°Major replacements¡± and ¡°additions and alterations¡±. Spending on major replacements fell in the third-quarter by nearly 37 percent, totaling a SAAR of $24.7 billion. However, third-quarter expenditures for additions and alterations reached $85.3 billion, netting a 6.8 percent pick-up from second-quarter 2001. |
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