Construction Spending Increases in November
Construction spending hit a 10-year high in November with monthly and year-to-year gains in both the public and private categories, according to the Associated General Contractors of America. Association officials said the November data indicates that the 2017 outlook for construction is favorable even as they cautioned that demand will vary for different types of construction projects. Construction spending in November totaled $1.182 trillion at a seasonally adjusted annual rate, the highest total since April 2006. The November rate was up 0.9% from the month before and up 4.1% from the November 2015 level. This is good news!
