Tuesday, January 3, 2012

Construction Spending Rose 1.2% in November

Construction spending rose 1.2% in November, following a 0.2% decline in October, according to a Census Bureau report released this morning. October’s growth was revised from an initially reported 0.8% growth to a 0.2% contraction.

The increase was led by private residential construction and public construction, rising 2.0% and 1.7% respectively. Private non-residential construction was flat in November. Within private residential construction, spending on new single-family construction is up 1.5% from last month, and spending on new multi-family construction is up 1.3% over the same period.

Read the report.

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