Construction spending totaled $807 billion in November 2011, the highest level since June 2010, as homebuilding, private nonresidential construction and public construction all increased compared to October, the Associated General Contractors of America reported following an analysis of new Census Bureau data. Association officials cautioned, however, that public spending on construction will drop during 2012 because of delays in enacting needed infrastructure bills and planned cuts to many federal construction programs.
"Several segments of construction appear to be climbing out of a hole," said the associationas chief economist, Ken Simonson. "The new year should reinforce …
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