Construction Spending in U.S. Rises More Than Forecast
This article is for subscribers only.
Construction spending in the U.S. rose in November for a third time in four months, indicating the industry helped boost growth at the end of 2011.
Building outlays increased 1.2 percent, exceeding the median estimate of 46 economists in a Bloomberg survey that called for a 0.5 percent gain, Commerce Department figures showed today in Washington. The October reading was revised down to show a 0.2 percent drop from a previously projected 0.8 percent increase, showing the initial data are susceptible to swings in direction.