US construction spending rises 0.4% in November

Figure up 11.3% on annual basis, Commerce Department says

By Ovunc Kutlu

ISTANBUL (AA) - US construction spending rose 0.4% to $2,050.1 billion in November, Commerce Department figures showed Tuesday.

Construction spending, one of the major indicators of well-being in the construction sector, was expected to show a monthly increase of 0.5%, according to estimates.

The figure showed a monthly gain of 1.2% in October at $2,042.5 billion.

Annually, the reading in November was 11.3% above the figure from the same month in 2022 when it stood at $1,842.2 billion, said the agency.

Construction spending, during the first eleven months of last year, amounted to $1,817.1 billion, which was 6.2% above the $1,711.1 billion for the same period in 2022.

Kaynak:

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