News Summary: US construction spending dips

Published on NewsOK Modified: January 2, 2013 at 12:23 pm •  Published: January 2, 2013
Advertisement
;

CONSTRUCTION PROJECTS: Spending on U.S. construction projects fell 0.3 percent in November, the first decline since March.

GOVERNMENT VS. HOUSING: The weakness reflected in part a steep 5.5 percent decline in construction spending by the federal government, a volatile category. This offset a 0.4 percent increase in residential construction, the eighth consecutive gain.

OUTLOOK: Housing construction is expected to keep making gains in 2013 as this sector keeps recovering from a deep slump. But the outlook is less bright for other sectors. Government spending is being constrained by tight budgets and there are lingering problems in commercial real estate as well.



Trending Now


AROUND THE WEB

  1. 1
    Best cities to launch a startup
  2. 2
    Drought-stricken California may restrict outdoor water use
  3. 3
    Eva Mendes, Ryan Gosling pregnancy sparks Twitter shock from fans - NY Daily News
  4. 4
    Advocates for blind, deaf want more from Apple
  5. 5
    World Cup Fan Scores Modeling Gig From Cheering
+ show more