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ECON: Construction Spending Lower Than Expected, Residential Spending Improves
Posted to:
Micro News
Wednesday, January 02, 2013 10:19 AM
- Construction Spending -0.3 vs +0.6 Consensus
- First negative reading since March
- Private Residential Construction Spending +0.4 to $295.3 bln, most since late 2008
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November
2012 was estimated at a seasonally adjusted annual rate of $866.0 billion, 0.3 percent (±1.6%)* below the revised October
estimate of $868.2 billion. The November figure is 7.7 percent (±2.0%) above the November 2011 estimate of $804.0
billion.
During the first 11 months of this year, construction spending amounted to $781.4 billion, 9.2 percent (±1.3%) above the
$715.4 billion for the same perio
d in 2011.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $589.8 billion, 0.2 percent (±1.3%)* below
the revised October estimate of $590.8 billion. Residential construction was at a seasonally adjusted annual rate of $295.3
billion in November, 0.4 percent (±1.3%)* above the revised October estimate of $294.2 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $294.5 billion in November, 0.7 percent (±1.3%)* below the
revised October estimate of $296.5 billion.
PUBLIC CONSTRUCTION
In November, the estimated seasonally adjusted annual rate of public construction spending was $276.2 billion, 0.4
percent (±2.3%)* below the revised October estimate of $277.4 billion. Educational construction was at a seasonally
adjusted annual rate of $66.8 billion, nearly the same as (±3.5%)* the revised October estimate of $66.8 billion. Highway
construction was at a seasonally adjusted annual rate of $77.8 billion, 0.5 percent (±5.3%)* above the revised October
estimate of $77.4 billion.
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ECON: Construction Spending Lower Than Expected, Residential Spending Improves
Posted to:
Micro News
Wednesday, January 02, 2013 10:19 AM
- Construction Spending -0.3 vs +0.6 Consensus
- First negative reading since March
- Private Residential Construction Spending +0.4 to $295.3 bln, most since late 2008
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November
2012 was estimated at a seasonally adjusted annual rate of $866.0 billion, 0.3 percent (±1.6%)* below the revised October
estimate of $868.2 billion. The November figure is 7.7 percent (±2.0%) above the November 2011 estimate of $804.0
billion.
During the first 11 months of this year, construction spending amounted to $781.4 billion, 9.2 percent (±1.3%) above the
$715.4 billion for the same perio
d in 2011.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $589.8 billion, 0.2 percent (±1.3%)* below
the revised October estimate of $590.8 billion. Residential construction was at a seasonally adjusted annual rate of $295.3
billion in November, 0.4 percent (±1.3%)* above the revised October estimate of $294.2 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $294.5 billion in November, 0.7 percent (±1.3%)* below the
revised October estimate of $296.5 billion.
PUBLIC CONSTRUCTION
In November, the estimated seasonally adjusted annual rate of public construction spending was $276.2 billion, 0.4
percent (±2.3%)* below the revised October estimate of $277.4 billion. Educational construction was at a seasonally
adjusted annual rate of $66.8 billion, nearly the same as (±3.5%)* the revised October estimate of $66.8 billion. Highway
construction was at a seasonally adjusted annual rate of $77.8 billion, 0.5 percent (±5.3%)* above the revised October
estimate of $77.4 billion.
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