WASHINGTON – A sharp slowdown in government-built schools and infrastructure caused U.S. construction spending to fall slightly in November.
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The Commerce Department says construction spending slipped 0.3 percent in November, after having climbed 1.2 percent in October.
Much of the decline came from a 1.7 percent retreat in government expenditures. Publicly-built school spending fell 2.5 percent, while the transportation, health care and public safety sectors also fell.
Private construction spending rose a modest 0.3 percent in November. Home-building climbed 1 percent in November, offsetting the declines in the office, commercial and health care-related construction.
Total construction spending has jumped 2.4 percent from a year ago to $974.9 billion.