Released by the U.S. Commerce Department data show that in November 2011, the ring of U.S. construction spending rose 1.2 percent, but still weak level of residential construction spending and government public construction spending rose to promote,
The data show that U.S. construction spending last year in November to a seasonally adjusted annual rate of about $ 807.1 billion World Steel Pipe News , higher than October's revised $ 797.4 billion, increased by 0.5% than the $ 803 billion in the same period in 2010. However, this figure is only slightly higher than economists believe that half of the level of health of the market.
Expenditure in public buildings, the month the U.S. government for expenditure on roads, schools and other public works projects rose 1.7 percent to $ 284.9 billion.
Since the real estate bubble burst in 2006, the U.S. construction industry has been in a severe adjustment has not yet been out of the woods. By factors of high unemployment, high housing foreclosure rates and falling house prices, the U.S. housing market recovery is still underpowered. Some economists expect the U.S. construction activity returned to normal levels needed four years.
That same month, the U world pie network information .S. private construction spending at a seasonally adjusted annual rate of about $ 522.3 billion, up 1 percent from the October revised data. Among them, the ring of residential construction spending reflects the degree of business sentiment of non-residential construction spending rose 2 percent to $ 243.7 billion; $ 278.6 billion, basically flat with the previous month.
The first 11 months of 2011, not an annual rate of U.S. construction spending amounted to $ 724.8 billion, down 2.5 percent over the same period in 2010.