Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

U.S. Construction Spending Rises  Join our daily free Newsletter

MENAFN - Saudi Press Agency - 03/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Saudi Press Agency) Spending on U.S. construction projects rose in December, ending a year in which construction activity increased for the first time in six years, the government reported Friday.

The Commerce Department said construction spending rose to an annual rate of 885 billion in December, up 0.9 percent from the previous month, when spending increased a slight 0.1 percent.

For all of 2012, construction spending totaled 850.2 billion, a gain of more than 9 percent from 2011, when construction spending had fallen 3.3 percent. Despite the increase, construction activity is 27 percent below the record high of 1.17 trillion set in 2006, the peak of the housing boom.

Construction has seen a slow recovery, led by housing gains. In December, housing and non-residential construction posted gains, but spending on government projects fell. The construction gains are helping the overall economy, and the sector has added about 100,000 jobs over the past four months.

In December, spending on residential projects rose 2.2 percent, the ninth consecutive monthly gain. Spending on non-residential projects rose 1.8 percent following a 0.3 percent decline in November.

Spending on government projects fell 1.4 percent to 270.1 billion, the lowest level since late 2006. Government activity has been limited by tight budgets. December spending on state and local government projects fell 1.7 percent, while spending on federal projects fell 1.3 percent.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help