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US construction spending beats forecasts in November

from For Construction Pros

Construction spending was up 0.8 percent in November on broad-based strength. Both public and private spending increased for the third straight month. Public spending has gained traction in recent months, but remains down 2.8 percent year to date. The Wells Fargo Economics Group’s analysis of the U.S. Census Bureau’s monthly estimates of value of construction put in place says revisions to the October numbers brought growth in total outlays to an 8.8 percent three-month-average annualized growth rate in November. more

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