real estate

Construction spending rose in November

Posted 1/6/12

WASHINGTON – National construction spending rose 1.2 percent in November 2011 from October 2011 and .5 percent compared with the same period in 2010, the U.S. Census Bureau said this week.

The government estimated seasonally-adjusted spending on construction reached $807.1 billion in November, up from 797.4 billion in October and from $803 billion in November 2010.

Of that total, $522.3 billion was spending on private construction, up 1 percent from October, while $284.9 was spent on public projects, up 1.7 percent from October.

Out of the total in private construction spending during November, $243.7 billion was in residential projects, up 2 percent from October.

Out of public construction in November, spending on education projects rose .5 percent and highway spending rose 1.9 percent from October.

In response to the new construction spending numbers, Associated General Contractors of America Chief Economist Ken Simonson said the results showed progress, but warned that spending on public projects could retreat again in the months ahead because of cuts in federal programs.

“Several segments of construction appear to be climbing out of a hole,” Simonson said. “The new year should reinforce recent year-over-year gains in apartment, power, manufacturing and private transportation construction. But November’s upturns in single-family homebuilding and public construction may not be sustainable.”

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement