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.
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
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(END) Dow Jones Newswires
January 03, 2018 10:15 ET (15:15 GMT)