U.S. Construction Spending Rebounds

Total construction spending in the United States saw a slight increase in November, rising 0.1 percent, according to monthly statistics released by the Commerce Department.

The increase brought total spending to a seasonally adjusted annual rate of $1.165 trillion, following a 0.4 percent decrease in October.

Private residential construction fell by 2.5 percent to an annual rate of $484.9 billion, however government and non-residential projects helped offset the decline. Private non-residential construction spending rose for the 14^th month in a row, increasing by 1.7 percent in November. 

In addition, government construction spending rose by 2.5 percent.

More information is available at www.commerce.gov.