July 18, 2024

The annual pace of construction spending continued its 10-month slowdown in January, falling 1.2 percent from a year ago to a seasonally adjusted annual rate of $1.18 trillion, according to a recent report from the U.S. Census Bureau. Residential construction spending declined 12.7 percent compared with one year earlier, standing at a rate of $585 billion, while the value of nonresidential construction activity rose 13.5 percent to a rate of $595.3 billion, according to the report.[tags]housing market,real estate market,housing bubble[/tags] Little Italy San Diego

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