November Private Residential Spending Dips

Private residential construction spending declined 0.5% in November, as spending on single-family construction plunged 2.9%. Private residential construction spending fell for the six consecutive month, standing at an annual pace of $868 billion. However, this total remains 5.3% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction, which has also declined… Read More ›