U.S. construction spending rose in November
Outlays for construction projects rose 0.2% in November to $1.81 trillion, the Commerce Department reported Tuesday.Spending in October fell a revised 0.2% to $1.8 trillion, up from the prior estimate of a 0.3% drop.Total private construction rose 0.3% in November. Private residential construction fell 0.5%, with single-family construction dropping by 2.9%. Private nonresidential spending rose by 1.7%.
Total public construction fell by 0.1%. Residential public construction fell by 0.1%, while nonresidential public construction also fell by 0.1% last month. Stocks DJIA, -0.17% SPX, -0.41% were down in early trading on Tuesday. The 10-year Treasury note TMUBMUSD10Y, 3.767% was below 3.75%.
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