Construction Spending for November 2012 Down, Still Strongly Expanding
From Econintersect Combined RSS Feed
January 2, 2013 - 10:33am
Written by Steven Hansen
US Census reported that construction spending declined slightly month-over-month in November 2012 - Econintersect sees the month-over-month comparisons a little worse. Government construction spending remains a drag on the relatively robustly expanding private sector.
The backward revision this month were generally down - so the numbers are worse than the headlines show. However, the year-over-year growth remains in a narrow channel showing the rate of expansion of this sector stable.
Down 2.2% month-over-month and Up 7.9% year-over-year
Inflation adjusted construction spending down 1.2% month-over-month - and up 6.7% year-over-year.
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