US Construction Spending Drops in November

The U.S. Department of Commerce reported today that construction spending during November 2015 unexpectedly dropped 0.4% lower than previously estimated. It was expected that spending would rise by 0.7%.

 

Watchdog Construction

 

The unexpected drop was partly due to a major slow down in government-built schools and infrastructure. This reading marked the first decline in construction spending in nearly 18 months. Despite the monthly decrease, the November 2015 construction spending total is 10.5% above the November 2014 figure.

 

 

Private construction spending rose a modest 0.3% in November led by home-building.

 

A more in depth look at the U.S. Department of Commerce figures can be found here.

 

Stephen Fean
Stephen Fean is the Vice President of Business Development at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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