There was growth in public construction as well as private residential and non-residential spending, according to an analysis of new Census Bureau data by the Associated General Contractors of America (AGC).
Association officials warned that federal investments in highway repairs could decline rapidly this summer because of funding shortfalls, undermining the sector's recovery.
"Overall construction spending increased in January compared with both December and January 2013 despite uncommonly adverse weather conditions," said Ken Simonson, the association's chief economist. "The monthly gains were limited to homebuilding and multi-family residential construction, although private non-residential work should rebound in the next few months. Public construction is up for now on a year-over-year basis, but funding remains questionable."
Construction put in place totalled US$943bn in January, 0.1% higher than the December total. The January mark was 9.3% percent higher than in January 2013, the fastest rate of growth for total construction spending since May 2006.
Private residential construction spending increased by 1.1% in January and jumped 15% over 12 months. Private non-residential spending slipped 0.2% for the month, but rose 9.7% compared to January 2013. Public construction spending dropped 0.8% for the month, but increased 2.5% from a year earlier.
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