U.S. Construction Spending Hits Highest Level in 10 Years
Washington -- U.S. builders increased spending on construction projects for 2 straight months, pushing construction spending to the highest level in over a decade.
Construction spending rose .9% in November and .6% in October. The increase was a reflection in home construction, non-residential building, and governement construction activity. The gains in these three categories pushed spending to $1.18 trillion. This is the highest it has been since April 2006.
Economists predict that construction will continue to grow in 2017 and continue to reduce unemployment (it is currently at the lowest point in 9 years).
You Might Also Like...