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U.S. construction spending reaches $810 billion in November

U.S. construction spending during November 2010 was estimated at $810.2 billion, a .4 percent increase from the revised October estimate of $806.7 billion and 6 percent below the November 2009 estimate of $861.5 billion, according to data released yesterday by the Department of Commerce. During the first 11 months of 2010, construction spending totaled $753.9 billion, 10.6 percent below the $843.1 billion for the same period in 2009. Spending on private construction was at a seasonally adjusted annual rate of $491.8 billion, .3 percent above the revised October estimate of $490.5 billion. Residential construction was at $235.7 billion in November, while nonresidential construction was at $256.1 billion. In terms of public construction, the estimated rate of spending was $318.5 billion in November, a .7 percent increase from the October estimate of $316.2 billion. Educational construction was at $73.4 billion and highway construction was at $86.8 billion. TRD

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