Commerce Department Data Shows New Construction Increased 7.7% YTY in January

The U.S. Census Bureau of the Department of Commerce said construction spending during Feb. 2012 was estimated at a seasonally adjusted annual rate of $808.9 billion, 1.1% below the revised January estimate of $818.1 billion. The February figure is 5.8% above the Feb. 2011 estimate of $764.2 billion. During the first two months of this year, construction spending amounted to $111.3 billion, 7.4% above the $103.7 billion for the same period in 2011. With a 1.7% increase to $42 billion in

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