» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 40 | NO. 1 | Friday, January 1, 2016

US construction spending falls 0.4 percent in November

Print | Front Page | Email this story

WASHINGTON (AP) — U.S. construction spending fell for the first time in 17 months, reflecting weakness in spending on hotel and other private nonresidential construction and government projects.

The Commerce Department says construction spending dipped 0.4 percent in November following a 0.3 percent increase in October. It was the first decline in activity since a 0.7 percent dip in June 2014.

Home construction posted an increase of 0.3 percent but nonresidential construction was down 0.7 percent, reflecting declines in a variety of categories including hotels, shopping centers and manufacturing plants. Government construction was also down in November. State and local spending fell 0.4 percent and the smaller federal category dropped 7.2 percent.

Construction, fueled by gains in housing, has been a positive for the economy and analysts look for further support in 2016.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0