The US Census Bureau of the Department of Commerce announced Wednesday that construction spending during November 2012 was estimated at a seasonally adjusted annual rate of USD 866.0 billion, 0.3% below the revised October estimate of USD 868.2 billion. The November figure is still 7.7% above the November 2011 estimate of USD 804.0 billion. During the first 11 months of 2012, construction spending amounted to USD 781.4 billion, 9.2% above the USD 715.4 billion for the same period in 2011.
Spending on private construction was at a seasonally adjusted annual rate of USD 589.8 billion, 0.2% below the revised October estimate of USD 590.8 billion. Residential construction was at a seasonally adjusted annual rate of USD 295.3 billion in November, 0.4% above the revised October estimate of USD 294.2 billion. Meanwhile, nonresidential construction was at a seasonally adjusted annual rate of USD 294.5 billion in November, 0.7% below the revised October estimate of USD 296.5 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was USD 276.2 billion, 0.4% below the revised October estimate of USD 277.4 billion. Educational construction was at a seasonally adjusted annual rate of USD 66.8 billion, nearly the same as the revised October estimate of USD 66.8 billion, and highway construction was at a seasonally adjusted annual rate of USD 77.8 billion, 0.5% above the revised October estimate of USD 77.4 billion
Source:
http://www.steelguru.com/international_news/Macroeconomic_indicators_Construction_spending_in_US_jumps_92_percent/297159.html
