Unusually cold weather did not keep construction spending from rising in January compared with year-ago levels, the Associated General Contractors of America said.
“Overall construction spending in the first two months of 2014 is nearly 9 percent higher than in the same period of 2013 even though public spending has continued to slip,” said Ken Simonson, the association's chief economist. “Several private nonresidential categories have rebounded impressively, while both home and apartment construction remain far ahead of year-ago levels.”