Spending on all types of construction in the U.S. fell by 0.1% in January, new figures show.

The consensus among economists had been that the numbers would be up 0.8%, Standard & Poor's reported.

Nonetheless, the report had good news for the construction industry. January was up 7.1% from January 2011, and revised numbers for the previous two months were 1.4% in December (revised from a 1.5% gain reported initially) and November surged 1.9% (revised well up from a more modest 0.4% gain in the first analysis).

Breaking out the numbers, Standard & Poor's said, "Residential construction spending rose 1.6% over December, offsetting the 0.8% drop in nonresidential construction. Public sector spending also fell 0.2% month-over-month in January."