Construction spending has solid gain in November led by residential building

Outlays for construction projects rose 0.4% in November at a seasonally adjusted annual rate of $1.63 trillion, the Commerce Department reported Monday. Economists polled by The Wall Street Journal had expected a 0.7% increase. Spending in October was revised up to a 0.4% gain from the prior estimate of a 0.2% rise. Over the past year, construction spending is up 9.3%. Residential construction rose 0.9% in November and is up 16% over the past year. https://www.marketwatch.com/story