Construction Spending Tumbles in January, But Is Up From Year Ago
Construction spending snapped a nine-month string of monthly gains with a sharp decline in January but still rose from year-ago levels, according to a recent analysis of new Census Bureau data by the Associated General Contractors of America.
Association officials cautioned that across-the-board federal spending cuts known as sequestration, which took effect on March 1, along with a possible shutdown of the federal government later this month, could hit construction harder than most sectors and dampen demand for needed projects.