US construction spending hits more than 10-year high in November

CNBC ^ | Berkeley Lovelace/AP/Reuters

[RoosterRedux]

U.S. construction spending rose more than expected in November, reaching its highest level in 10-1/2 years, which could provide a lift to fourth-quarter economic growth.

The Commerce Department said on Tuesday that construction spending increased 0.9 percent to $1.18 trillion, the highest level since April 2006. It was boosted by gains in both private and public sector investment

Construction spending in October was revised up to show a 0.6 percent rise instead of the previously reported 0.5 percent increase. Construction spending was up 4.1 percent from a year ago in November.

Economists polled by Reuters had forecast construction spending rising 0.6 percent in November. November's better-than-expected increase and October's upward revision to construction spending could prompt economists to raise their gross domestic product estimates for the fourth quarter.

[RoosterRedux]

Also in the article “US manufacturing expanded in December.”

[Bob]

It’s almost as if something of great significance happened early in November. I wonder what that might have been? Anybody have any ideas?

[jospehm20]

The Russians hacked this too?

[DUMBGRUNT]

It’s almost as if something of great significance happened early in November

IIRC government spending in the last half of 16 was twice normal and way over budget.

Gotta juice the economy for Mrs Clinton!
As usual 0bama and his crew were off on the timing.

Now President Trump hits the road running!!!

Go Trump!