Posted To: MND NewsWire

Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the seasonally adjusted annual spending on all types of construction was $1.459 trillion during the month compared to $1.447 trillion the prior month, an 0.9 percent increase. The rate was up 3.8 percent from annualized spending ($1.406 trillion) in November 2019. On an unadjusted basis, there was $123.452 billion spent during the month, down from $128.919 billion in October. For the first 11 months of 2020 expenditures had totaled $1.314 trillion, up from $1.259 trillion during the same period in 2019, a 4.4 percent gain. Privately funded spending increased 1.2 percent month-over-month and 4.1 percent on an annual basis. Seasonally adjusted annual spending…(read more)

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Source: Mortgage News Daily