WASHINGTON - 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.
AFP
