75°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

US construction spending hits highest level in 10 years

7 months 2 weeks 5 days ago Tuesday, January 03 2017 Jan 3, 2017 January 03, 2017 11:41 AM January 03, 2017 in News
Source: Associated Press

WASHINGTON - U.S. builders boosted spending on construction projects for a second straight month in November, pushing activity to the highest level in more than a decade.

The Commerce Department says construction spending rose 0.9 percent in November after a 0.6 percent increase in October. The increase reflected solid gains in home construction, nonresidential building and government construction activity.

The gains in all three categories pushed total construction to a seasonally adjusted annual rate of $1.18 trillion, the highest point since April 2006 when the housing boom of the past decade pushed up building activity.

Economists believe construction will continue to show gains in 2017, reflecting a strong job market with unemployment at the lowest point in nine years.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days