Construction spending fell slightly in November to a seasonally adjusted annual rate of $866 billion, the U.S. Census Bureau reported Wednesday.
Total construction spending in October was revised to $868.2 billion, the bureau said. That put the month to month decline at 0.3 percent.
Spending in November was 7.7 percent above November 2011 when $804 billion was spent on construction projects on a seasonally adjusted annual basis.
Spending on private construction was at a seasonally adjusted annual rate of $589.8 billion, 0.2 percent lower than the revised estimate for October of $590.8 billion, the Census Bureau said.
The figure for private projects includes $295.3 billion spent on residential projects and $294.5 billion spent on non-residential projects.
The estimated seasonally adjusted annual rate of public construction spending in November was $276.2 billion, 0.4 percent below the revised October estimate of $277.4 billion, the Census Bureau said.
Educational construction was at a seasonally adjusted annual rate of $66.8 billion, while highway construction was at a seasonally adjusted annual rate of $77.8 billion.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Koch Brothers Step up Anti-Obamacare Campaign
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Quiznos Files for Chapter 11
- SoCalGas Reaches Record Spend on Diversity Suppliers
- FDIC Sues Big Banks Over Rate Manipulation
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March