Construction Spending in U.S. Unexpectedly Fell in November
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Spending on U.S. construction projects unexpectedly dropped in November, restrained by declines in non-residential building and public works.
Outlays fell 0.3 percent to $866 billion annual rate after increasing a less-than-previously estimated 0.7 percent in October, the Commerce Department reported today in Washington. The median forecast of 41 economists surveyed by Bloomberg called for a 0.6 percent increase. Housing climbed to the highest level in more than four years.