U.S. Construction Spending Hits 10-Year High
U.S. construction spending in November 2016 reached an estimated seasonally adjusted annual rate of $1.18 trillion, the highest total in more than 10 years. Spending rose 0.9% above the revised October estimate and was 4.1% higher than the comparable month in 2015.
Private construction inched above October by 1% to $892.8 billion, with residential levels also up 1% at $462.9 billion and nonresidential totals rising 0.9% to $429.9 billion. See U.S. Census Bureau