Nov. Construction Spending Falls 0.3%

Construction spending declined 0.3% in November, the Commerce Department said Friday, and is 2.4% above the November 2013 level.

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In October, construction spending gained a revised 1.2%, first reported as a 1.1% increase.

Spending on private construction grew 0.3% in the month, while public construction fell 1.7%.

Residential construction gained 0.9% and single-family housing climbed 1.0% in the month.

Multi-family housing increased 1.1%.

Economists polled by Thomson Reuters predicted a 0.3% rise in construction spending.


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