facebook
twitter
search
search

Construction spending slipped in November

Jan. 2, 2013 at 11:58 AM

WASHINGTON, Jan. 2 (UPI) -- Construction spending fell slightly in November to a seasonally adjusted annual rate of $866 billion, the U.S. Census Bureau reported Wednesday.

Total construction spending in October was revised to $868.2 billion, the bureau said. That put the month to month decline at 0.3 percent.

Spending in November was 7.7 percent above November 2011 when $804 billion was spent on construction projects on a seasonally adjusted annual basis.

Spending on private construction was at a seasonally adjusted annual rate of $589.8 billion, 0.2 percent lower than the revised estimate for October of $590.8 billion, the Census Bureau said.

The figure for private projects includes $295.3 billion spent on residential projects and $294.5 billion spent on non-residential projects.

The estimated seasonally adjusted annual rate of public construction spending in November was $276.2 billion, 0.4 percent below the revised October estimate of $277.4 billion, the Census Bureau said.

Educational construction was at a seasonally adjusted annual rate of $66.8 billion, while highway construction was at a seasonally adjusted annual rate of $77.8 billion.

Related UPI Stories
Latest Headlines
Trending Stories
Vatican: Bishops not required to report abuse to police
Nicola Griffin to appear in Sports Illustrated swimsuit issue at 56
Dementia rates decline in U.S., researchers unsure why
'El Chapo' drug empire's alleged financial operator arrested in Mexico
New data undermines story of Yellowstone's formation