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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Nov. Construction Data Not as Bad as Expected

Construction spending in November was down 0.6 percent, which was less than the 1.3 percent Wall Street predicted.

The less-than-expected decline came from non-residential projects, including government building, which were up 1 percent compared with November 2007.

Private residential construction in November was down 4.2 percent compared with last year.

Fewer new homes were started in November than at any time in the United States since records began being kept in 1959, the Commerce Department said.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  January 5, 2009; 10:45 AM ET
Categories:  The Ticker  | Tags: construction  
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