January 2, 2025
Construction spending (the green bars above) was unchanged in November after having risen 0.5% in October. Construction spending climbed sharply in the first four months of last year, but it has slowed considerably beginning in June. In the past 12 months it has risen 3.0%.
Private construction spending (excluding the government sector) rose 0.1% in November aet having risen 0.6% in October. In the past year private construction has risen 2.5%.
Within the private construction spending category, residential spending rose 0.1% in November after having risen 1.4% in October.. In the past 12 months residential construction spending has risen 3.1%.
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Nonresidential construction was unchanged in November after having declined 0.3% in October . It had been climbing rapidly but has flattened out in the past six months, In the past 12 months nonresidential construction has risen 1.7%.
Public sector construction fell 0.1% in both September and October. In the past year such spending has risen 4.6%. The increase in this category in the past year has been led by construction of offices, commercial space, health care, educational, amusement and recreation, power, highway and street, sewage and waste disposal, water supply, and conservation and development.
.Stephen Slifer
NumberNomics
Charleston, SC
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