ONE-FAMILY HOMES KEEP CONSTRUCTION SPENDING AFLOAT

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, February 2, 1993                   TAG: 9302020075
SECTION: BUSINESS                    PAGE: A3   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short
ONE-FAMILY HOMES KEEP CONSTRUCTION SPENDING AFLOAT
Construction spending rose 6.2 percent in 1992, the largest increase in six years, the government said Monday.
But it remained unchanged in December after three monthly increases, and the October and November increases were revised downward substantially.
Most of the annual increase was in the single-family home category; overbuilding and high vacancy rates continued to curb spending for apartments and commercial development.
The Commerce Department said residential, non-residential and government outlays totaled $425.8 billion, up from $401 billion in 1991 and the highest since $446.4 billion in 1990. It was the biggest annual gain since an 8 percent advance in 1986.
In December, spending was unchanged at a seasonally adjusted annual rate of $434.4 billion.
The report also showed:
Residential construction, both single- and multifamily homes, rose 16 percent in 1992, to $183 billion, including a 1.8 percent gain in December. But the increase was all in single-family spending, which surged 22.6 percent. Apartment outlays fell 14.3 percent.
Non-residential projects slumped 12.8 percent last year, to $85.4 billion, with a 5.2 percent drop in December. Spending plunged 45.8 percent for hotels and 26.5 percent for office buildings.
Government spending rose 7.7 percent to $118.7 billion.

by Archana Subramaniam by CNB