Arab Today, arab today us construction spending falls in november
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Arab Today, arab today
Arab Today, arab today

US construction spending falls in November

Arab Today, arab today

Arab Today, arab today US construction spending falls in November

Brickell CityCentre condo
Washington - AFP

US spending on construction fell slightly in November from the previous month driven by a decline in non-residential building, but was higher from a year ago, the Commerce Department reported Friday.
Total construction spending fell to an adjusted annual rate of $975.0 billion, 0.3 percent lower than October. Residential construction gained 0.9 percent in the month, while non-residential declined 1.0 percent.
For the year to November, construction spending grew 2.4 percent, with non-residential building driving the gain with a 4.2 percent rise. Residential spending year-over-year fell 0.6 percent.
For the month private construction was higher while public spending was down, but year-on-year it was public spending driving growth, up 3.2 percent to a 2.0 percent rise in private sector construction.

 

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