US construction spending fell -0.2% MoM in January, below expectations of no growth. On an annual basis, construction spending was up 3.3% YoY.

• Residential construction fell -0.5% MoM, and nonresidential construction was up slightly, just 0.1% MoM.
• Commercial construction eased -0.4% MoM and -4.4% YoY partially offset by a 0.4% MoM rise in office construction.
• Private construction fell -0.2% MoM offsetting a rise of 0.1% MoM in public construction.