November Construction Spending Comes in Hot

Posted To: MND NewsWire

Construction spending in November came in slightly above analysts' consensus for an increase of 0.6 percent. Overall expenditures for construction put in place during the month were at a seasonally adjusted annual rate of 1.257 trillion, a 0.8 percent gain from October and up 2.7 percent from November 2016. The October estimate was revised up from $1.242 trillion to $1.247 trillion. On a non-adjusted basis, November spending totaled $105.8 billion, down from $112.9 billion in October. Year-to-date spending through November was estimated at $1.138 trillion, a 4.2 percent increase over the same period in 2016. Spending on private construction projects rose 1.0 percent to a seasonally adjusted annual rate of $964.3 billion. This was ahead of the November 2016 pace by 2.6 percent. Spending for...(read more)

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