BUSINESS

US construction spending down 0.3 pct. in November; government building activity leads decline

01/02/2015 10:02 EST | Updated 03/04/2015 05:59 EST
WASHINGTON - A sharp slowdown in government-built schools and infrastructure caused U.S. construction spending to fall slightly in November.

The Commerce Department says construction spending slipped 0.3 per cent in November, after having climbed 1.2 per cent in October.

Much of the decline came from a 1.7 per cent retreat in government expenditures. Publicly-built school spending fell 2.5 per cent, while the transportation, health care and public safety sectors also fell.

Private construction spending rose a modest 0.3 per cent in November. Home-building climbed 1 per cent in November, offsetting the declines in the office, commercial and health care-related construction.

Total construction spending has jumped 2.4 per cent from a year ago to $974.9 billion.