Private Residential Spending Falls Slightly in January

Private residential construction spending declined 0.6% in January, as spending on single-family construction decreased 1.7%. It declined on the eighth month in a row amid elevated mortgage interest rates. Moreover, private residential construction is 3.9% lower compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction, which has been declining since June 2022…. Read More ›