U.S. Con­struc­tion Spend­ing Beats An­a­lyst Ex­pec­ta­tions

The Bond Buyer - - Market News - — Mar­ket News In­ter­na­tional

Con­struc­tion spend­ing was up 0.8% in Novem­ber, slightly above the ex­pected 0.7% gain, mainly due to the 1.0% gain in pri­vate con­struc­tion spend­ing, data re­leased by the Com­merce Depart­ment Wed­nes­day morn­ing showed.

Pub­lic con­struc­tion spend­ing saw a soft 0.2% gain in Novem­ber fol­low­ing a 3.5% and 2.5% in­crease in Oc­to­ber and Septem­ber, re­spec­tively.

An­a­lysts had ex­pected con­struc­tion spend­ing to rise 0.7%, adding to a 1.4% rise in Oc­to­ber. With the lat­est data, Oc­to­ber con­struc­tion was re­vised down to a 0.9% in­crease, but Septem­ber spend­ing was re­vised sharply up to a 1.3% in­crease from the 0.3% rise pre­vi­ously re­ported.

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