Fall in US construction spending in November

Bya897204973

Updated Wed, 07 Jan 2015 10:25:25 GMT

According to the latest data from the US Census Bureau, construction spending fell by 0.28% from US$977.70 billion in October 2014 to a seasonally adjusted annual rate of US$974.976 billion in November 2014.

Much of the decline, which is the first recorded since June 2014, was attributed to decreased government outlays, particularly publicly-built school spending, as well as transportation, health care, and public safety sector spending. A fall in investment in non-residential construction projects also contributed.