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| March 5, 2010
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Public Projects Up, Private Projects Down in January |
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Total construction spending dropped in January but street and highway construction was up from a year ago, the U.S. Census Bureau reported Monday.
Construction spending in January fell to $884 billion at a seasonally adjusted annual rate, down 9.3 percent from January 2009. For the entire year of 2009, construction spending was $937 billion, 13 percent below the 2008 level. Public construction continued to rise, however, while private markets slumped. Overall, publicly funded construction went up 2.1 percent in January compared to the same month a year earlier. Highway and street construction, fueled by $27.5 billion in American Recovery and Reinvestment Act funds, was up 1.2 percent in January compared to the first month of 2009. Other transportation construction such as mass transit, rail, airports, and ports fell 0.3 percent during that same period. Questions regarding this article may be directed to editor@aashtojournal.org. |