January construction spending +1.3%, well...>

US DATA: January construction spending +1.3%, well above expected +0.3%. 

-Private construction +0.2%, public construction +4.9%. 

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- January construct spending +1.3% vs. +0.3% expected by an MNI 

survey of analysts and +0.4% expected by the Bloomberg consensus. 

- December rev down to -0.8% from -0.6% and November rev down to -1.3% 

from +0.8%. 

- Private residential building -0.3%. Within the category, 1-family 

-0.7%, multi-family +1.4%, and remodeling -0.3%, based on an MNI calc. 

- Private nonres building +0.8%, driven by +1.5% in commercial and +6.8%  

in transportation, partially offset by -4.5% in communication, and -1.0% 

in manufacturing. 

- Public construction +4.9%, highest since September 2010, after 

Decemberrev down to -1.0% from -0.6%. State and local government building 

+4.9%, highest since July 2009, while federal government construction 

+4.2%.