Public Works Falls After October's Rebound

摘要

Public construction declined 1.8% in November to a seasonally adjusted annual rate of $275 billion, according to the U.S. Dept. of Commerce's latest seasonally adjusted annual data (see chart). That dip takes some of the polish off of October's strong 3.8% rebound. November's seasonally adjusted annual rate was 0.2% below November 2012's pace. On a year-to-date basis, total public construction through the first 11 months of last year was $252.59 billion, which was 2.7% below the same period of a year ago.