U.S. Construction Spending Hits 10-Year High

Jan 4, 2017 by

construction-worker

The U.S. Census Bureau of the Department of Commerce announced this month that construction spending during November 2016 was estimated at a seasonally adjusted annual rate of $1.18 trillion, 0.9% higher than October’s estimate and 4.1% higher than November 2015.  Residential construction was at a seasonally adjusted annual rate of $462.9 billion in November, 1% higher than October’s estimate.  Nonresidential construction was at a seasonally adjusted annual rate of $429.9 billion in November, 0.9% above October’s estimate of $426.2 billion.

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