WASHINGTON—U.S. construction spending surged in January, boosted by strong outlays on single-family homebuilding and private nonresidential structures. The Commerce Department said on Tuesday that construction spending increased 1.3 percent. Data for December was revised higher to show construction outlays rising 0.8 percent instead of 0.2 percent as previously reported. Economists polled by Reuters had forecast construction spending gaining 0.2 percent. Construction spending increased 8.2 percent on a year-on-year basis in January. Spending on private construction projects shot up 1.5 percent in January. Outlays on residential construction increased 1.3 percent. Single-family homebuilding spending advanced 1.2 percent, while outlays on multi-family housing projects dipped 0.1 percent. Despite January’s jump, homebuilding remains constrained by higher prices for building materials, especially framing lumber. The United States last November nearly doubled the duties on imported Canadian softwood lumber after a review of its anti-dumping and countervailing duty orders. The National Association of Homebuilders said last …
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