Construction spending on the rise in November

By: Nathalie Weinstein//January 3, 2011//

Construction spending on the rise in November

Nathalie Weinstein//January 3, 2011//

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Construction spending rose 0.4 percent between October and November 2010, according to a report released today by the U.S. Department of Commerce.

Spending rose from a seasonally adjusted annual rate of $806.7 billion in October 2010 to $810.2 billion in November 2010. Residential and nonresidential private construction rose 0.3 percent between October and November to $491.8 billion. Public construction had a slightly better gain, rising 0.7 percent from $316.2 billion in October to $318.5 billion in November.

According to the report, overall construction spending during the first 11 months of 2010 amounted to $753.9 billion, a decline of 10.6 percent from the same period in 2009.