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04.01.2016 15:35 Construction spending in the U.S. drops 0.4% in November

The U.S. Commerce Department released construction spending data on Monday. Construction spending in the U.S. declined 0.4% in November, missing expectations for a 0.5% gain, after a 0.3% increase in October. It was the biggest decline since June 2014.


October's figure was revised down from a 1.0% rise.


The data from January 2005 through October 2015 was revised by the U.S. government.


The drop was mainly driven by a fall in non-residential construction, which was down 0.8% in November.


Spending on private residential construction climbed 0.2% in November.


Spending on private construction decreased 0.2% in November, while public construction spending slid 1.0%.

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