Census Bureau: U.S. construction spending on the rise
Construction spending rose slightly in November, increasing to a seasonally adjusted rate of $810.2 billion, according to U.S. Census Bureau data. The rate is 0.4 percent higher than the revised October rate of $806.7 billion. Construction spending for the first 11 months of 2010 totaled $753.9 billion, 10.6 percent less than the same period in 2009.
Residential construction increased as well, rising 0.7 percent to a seasonally adjusted rate of $246.8 billion between October and November. The rate remained four percent below the November 2009 rate. Private residential construction accounted for $235.7 billion of the total, while public residential construction accounted for $11.1 billion.