More Money Was Spent on Construction This Past November

There’s some good news available to builders in the United States: construction spending in November 2013 rose at a pace unseen since March 2009. It may not be the actual, definitive end of the recession but it is may be the beginning of the end.

The U.S. Commerce Department just released figures showing that the seasonally adjusted annual rate of $934.4 billion for November was a full 1% above the figure for October. Residential construction led the way with an almost 2% rise while commercial projects lagged somewhat.

All of these figures bode well for the U.S. economy. New homes are one of the most consistent barometers of economic revival as they generate three annual jobs per home and each one also contributes almost $100,000 in taxes to local, state and the Federal government. In short, November proved to be a banner month for the recovery of the home building industry and the U.S. economy in general.

For more information on this construction topic or if you are looking for the finest Kansas City lumberyard, please contact us at Schutte Lumber.