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US construction spending up 1.8% in January to record level

FILE - In this Nov. 27, 2019 file photo workers use a lift while working on a new building in Boston's Seaport district. Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects. The Commerce Department said Monday, March 2, 2020, that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing totally spending to a record seasonally adjusted annual rate of $1.37 trillion. (AP Photo/Steven Senne, File)
FILE - In this Nov. 27, 2019 file photo workers use a lift while working on a new building in Boston's Seaport district. Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects. The Commerce Department said Monday, March 2, 2020, that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing totally spending to a record seasonally adjusted annual rate of $1.37 trillion. (AP Photo/Steven Senne, File) FILE - In this Nov. 27, 2019 file photo workers use a lift while working on a new building in Boston's Seaport district. Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects. The Commerce Department said Monday, March 2, 2020, that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing totally spending to a record seasonally adjusted annual rate of $1.37 trillion. (AP Photo/Steven Senne, File)

By MARTIN CRUTSINGER / The Associated Press 2 min read

WASHINGTON – Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects.

The Commerce Department said Monday that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing totally spending to a record seasonally adjusted annual rate of $1.37 trillion.

Spending on home construction jumped 2.1%, the strongest gain since August. The strength came from single-family home construction which rose 2.7% while apartment building was unchanged.

Home building has been seeing strong gains since the summer as falling mortgage rates have helped to spur a rebound after more than a year of lagging activity.

Nonresidential construction was up 0.8% in January with spending in the category that includes shopping centers and religious centers showing some of the biggest gains.