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Economic News in Review Greenville SC - Jan 06, 2015
Economic News in Review Greenville SC

Here is last week’s Economic News in Review Greenville SC.
 
Last week’s slate of economic news was very light due to holiday bureau closures, but there were a couple key announcements that surfaced in the headlines: U.S. manufacturing was still growing, but hit a six-month low, and the pace of construction activity unexpectedly fell.
Construction Spending
The pace of U.S. construction fell further than the market expected, but private construction, and especially residential construction showed improved performance. Construction spending during November dropping to an annual rate of $975 billion, which was 0.3 percent off from October’s revised estimate of $977.7 billion, the Census Bureau reported last week. The market had expected a 0.1 percent gain. That said, compared annually, November’s construction performance was 2.4 percent over November 2013’s estimate of $952.5 billion.
While construction on the whole was down, private construction spending fared positively. Private construction for November hit an annual rate of $697.7 billion, which was 0.3 percent over October’s revised estimate of $695.7 billion. Better yet, residential construction hit an annual rate of $352.7 billion in November, which was 0.9 percent better than October’s revised estimate of $349.6 billion.
The big ... more

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