Construction Spending Rises Less Than Expected

Posted To: MND NewsWire

Construction spending scrambled back into positive territory by a tiny bit in December, gaining 0.1 percent from November's level to an estimated seasonally adjusted annual rate of $1,116.6 billion. The gain came even as the November estimate was revised down even further from a 0.4 percent loss to a negative 0.6 percent at $1.116.0 billion. The December figure was still well above the spending pace in December 2014 of $1,031.6 billion, an increase of 8.2 percent. The December numbers, released Monday by the U.S. Census Bureau, were significantly lower than analysts had predicted, a range, according to Econoday and Bloomberg of 0.3 percent to 1.3 percent with a consensus of 0.6 percent. On an unadjusted basis there was an estimated $86,903 billion spent during the month compared to $93,377...(read more)

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