U.S. construction spending highest in nearly five years

U.S. construction spending rose to its absolute best level in nearly five years in November as a surge in personal development tasks offset a drop in public outlays. Construction spending elevated 1 percent to an annual fee of $934.4 billion, the best possible stage due to the fact March 2009, the Commerce Division said on Thursday. It was the eighth straight month that construction spending increased. Construction spending in October was once revised to indicate a 0.9 percent upward push as an alternative of the previously pronounced 0.eight p.c raise.