November construction spending better than predicted
January 05, 2009 06:00PMConstruction spending in the U.S. fell less than expected in November,
as commercial and government building increased, counteracting the
residential slump. Construction spending declined 0.6 percent in
November, the Commerce Department said today, compared to the 1.4
percent decline that economists had estimated. The downturn in
residential construction is likely to continue, economists said.
Non-residential construction, including public projects, increased 1
percent in November and was 9.2 percent greater than it had been a year
earlier.
[Bloomberg]
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