Posted To: MND NewsWire

Construction spending by both the public and the private sector grew in November, totaling a seasonally adjusted annual rate of $1.324 trillion dollars. This is 0.6 percent higher than the $1.316 trillion rate in October and represents 4.1 percent growth compared to the $1.271 trillion in construction put in place in November 2018. On an unadjusted basis, construction spending was $110.7 billion during the month compared to $117.8 billion the previous month. For the first 11 months of the year, spending is down 0.8 percent from $1.212 trillion in 2018 to $1.202 trillion in 2019. Expenditures for privately funded construction projects was as a seasonally adjusted rate of $985.5 billion in November, up 0.4 percent from October and 1.6 percent from November 2018. On an unadjusted basis it totaled…(read more)

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Source: Mortgage News Daily