The total construction expenditure dropped by 0.2% in January, according to a report published by the United States Census Office, with a year -on -year expense of 3.3%. Monthly residential spending dropped by 0.5%, while non -residential increased by 0.1% in the same period of time.
“The decrease in spending in January is likely to get worse, as uncertainty about rates, interest rates and inflation causes investors and developers to delay or increase projects,” says Ken Simonson, an economist in none of the general associated contractors in America. “The prices for the short -term future of metals and oil products, along with supplier prices, have already increased the costs of construction. The rates and costs of ports in Chinese ships will further add the costs and uncertainty about the viability of many projects.”
Monthly private non -residential construction expenditure remained flat in general, while non -residential public expenditure increased by 0.2%.
“Non-residential construction expenditure was slightly bouncing in January, but this report is far from fostering,” said Anirban Basu, an economist in Chief of Builders and associated contractors, in a statement, saying that the construction of the data center represented more than 75% of the increase. “Although this segment is so hot that the effects of high interest rates may melt, it seems that many other categories are frozen in their place. Even the manufacture, which still represents almost $ 1 on every $ 5 of non -residential construction expenditure, has been virtually unchanged since last year.”
