Construction spending in the US increased by 5.8pc to $1.52tn in January 2021 from $1.43tn in the same month of 2020, according to the US Census Bureau data.
In the private sector, construction spending stood at $1.16tn in January, 1.7pc higher than the prior month. During this period, residential construction rose by 2.5pc to $713bn while non-residential construction increased by 0.4pc to $447bn.
In January, public construction spending went up by 1.7pc to $361bn, compared to December 2020. Educational construction was flat at $90bn while highway construction spending rose by 5.8pc on a monthly basis in January to $108bn.