November Construction Spending Falls Less than Anticipated

January 4, 2007 • Spending in the construction market fell a smaller-than-expected 0.2% in November, according to a report by the U.S. Department of Commerce, ending at $1.184 trillion. Even with all time highs in non-residential and public construction, an eighth straight drop in private residential building caused the 0.2% drop. Public construction rose 1% to an all-time high of $278.4 billion and private nonresidential construction increased 1.4% to attain $316.5 billion, also its highest mark.