Construction spending continues to rise in the US

According to the US Census Bureau, construction spending increased by 1% m/m (seasonally adjusted) to an estimated US$934.4 billion in November 2013. The revised spending figure for October 2013 was announced as US$925.1 billion. Spending in November 2013 indicates a 5.9% improvement on November 2012’s US$882.7 billion estimated construction spending. Private construction spending was up 2.2% m/m, while residential and non-residential construction spending increased by 1.9% m/m and 2.7% m/m, respectively. However, public construction spending fell by 1.8% m/m from US$280.2 billion to US$275 billion. Although spending on educational construction was 1.1% higher than October 2013’s estimate, highway construction spending fell by 0.4% m/m. In January – November 2013, construction spending rose by 5% to US$828.4 billion from an estimated US$788.8 billion in the corresponding period in 2012.

Edited from various sources by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/06012014/us_construction_spending_increases_559/