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    Analysis

    March 4, 2022

    CPIP Data: Construction Spending Jumps in January

    Written by David Schollaert

    U.S. construction spending in January totaled $1.68 trillion at a seasonally adjusted annual rate, boosted 1.3% by strong outlays on single-family homebuilding and private nonresidential structures, the Commerce Department reported.

    The gain is even more significant given December data was revised higher to show construction outlays rising 0.8% instead of 0.2% as previously reported. January’s spending increased 8.2% on a year-on-year basis.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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