Construction Spending Up 1.2% In November

Posted by Orb Staff on January 04, 2012 No Comments
Categories : Residential Mortgage

10640_88350174 Construction Spending Up 1.2% In November The U.S. Census Bureau of the Department of Commerce has announced that construction spending during November 2011 was estimated at a seasonally adjusted annual rate of $807.1 billion, which is 1.2% above the revised October estimate of $797.4 billion.

The November figure is 0.5% above the November 2010 estimate of $803 billion. During the first 11 months of this 2011, construction spending amounted to $724.8 billion, which is 2.5% below the $743.6 billion for the same period in 2010.

Spending on private construction was at a seasonally adjusted annual rate of $522.3 billion – 1% above the revised October estimate of $517.3 billion. Residential construction was at a seasonally adjusted annual rate of $243.7 billion in November, 2% above the revised October estimate of $238.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $278.6 billion in November, nearly the same as the revised October estimate of $278.5 billion.

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