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.
(AP)
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One Response
What a chutzpah. What an act of provocation. What an obstacle to peace. How can they just build like that, in the face of Native Indians? That will only inflame tensions. I call on both sides to tone down the rhetoric. I trust that John Kerry will put an end to this.