A mixed November for construction
Residential construction spending increased 0.39 percent from October. Non-residential construction spending declined 0.7 percent since October.
Today, the U.S. Census Bureau released their latest read of construction spending showing generally better results in November with total construction spending and the residential component improving while the non-residential component worsened since October.Skip to next paragraph
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
Pending home sales fall. Shutdown to blame?
Existing home sales fall 3.2 percent in October
Homebuilder activity flat in November
October Employment Situation Report: Better than September, still worse than 2007
Initial unemployment claims down, continued unemployment claims up
Subscribe Today to the Monitor
On a month-to-month basis, total residential spending increased 0.39% from October climbing 22.94% above the level seen in November 2011 while still remaining a whopping 55.37% below the peak level seen in 2006.
Single family construction spending climbed 1.33% since October rising 31.76% since November 2011 but remained a whopping 69.53% below it's peak in 2006.
RECOMMENDED: Top 10 metros for job growth
Non-residential construction spending declined 0.70% since October but rose 3.84% above the level seen in November 2011 and remained a whopping 30.93% below the peak level reached in October 2008.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.