Construction Picked up Pace as Year-End Neared

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Posted To: MND NewsWire

Perhaps construction spending is finally emerging from the doldrums where it has lingered for months. For the second month in a row the Census Bureau reports an uptick in total spending and in its publicly and privately funded components. Total construction spending posted a 0.9 percent gain in November to a seasonally adjusted annual rate of $1.18 trillion from the revised (from $1.172 trillion) $1.171 trillion in October. This is 4.1 percent above the spending rate in November 2015. Expenditures in the first 11 months of 2016 totaled $1.07 trillion compared to $1.03 trillion for the same period in 2015, an increase of 4.4 percent. Privately funded construction was at a seasonally adjusted annual rate of $892.8 billion, 1.0 percent higher than the October total, which was revised from $885…(read more)

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