- U.S. construction spending increases more than forecast in November
Market news
3 January 2020
U.S. construction spending increases more than forecast in November
The Commerce Department announced on Friday that construction spending rose 0.6 percent m-o-m in November after a revised 0.1 percent m-o-m gain in October (originally a 0.8 percent m-o-m drop).
Economists had forecast construction spending increasing 0.3 percent m-o-m in November.
According to the report, spending on private construction increased 0.4 percent m-o-m, while investment in public construction climbed 0.9 percent m-o-m.
On a y-o-y basis, construction spending surged 4.1 percent in November.
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