U.S. Construction Spending Rose in November

By Sharon Nunn and Sarah ChaneyFeaturesDow Jones Newswires

Spending on construction projects across the U.S. grew robustly in November on strong private sector building.

Total U.S. construction spending rose 0.8% from October to a seasonally adjusted annual rate of $1.257 trillion, the Commerce Department said Wednesday.

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Economists surveyed by The Wall Street Journal expected a 0.5% increase in November.

Private sector construction, which includes homebuilding, office construction and other real estate property building, helped drive November's increase, rising 1.0% from the previous month. Public construction rose 0.2%, clocking four straight months of growth.

The Commerce Department's latest report on construction spending can be accessed at https://www.census.gov/construction/c30/pdf/release.pdf

Write to Sharon Nunn at sharon.nunn@wsj.com and Sarah Chaney at sarah.chaney@wsj.com.

(END) Dow Jones Newswires

January 03, 2018 10:15 ET (15:15 GMT)