Economy

US construction spending up 1 percent in November

By Josh Boak
Published January 2, 2014 5:00am ET
Add Washington Examiner on Google
US construction spending up 1 percent in November
FILE - In this Sunday, Nov. 17, 2013, file photo, a guard tower, lower right, from Louisiana State Penitentiary, also known as "Angola" and "The Farm" is lowered into the construction site of The National Museum of African American History and Culture, beside the Washington Monument, in Washington. The government reports on U.S. construction spending in November on Thursday, Jan. 2, 2014. (AP Photo/Cliff Owen, File) | Cliff Owen

U.S. construction spending rose in November at the strongest pace in more than four years, driven by solid gains in home construction and commercial projects.

The Commerce Department says construction spending increased 1 percent in November to a seasonally adjusted annual rate of $934.4 billion. That’s the fastest rate since March 2009 and a slight improvement on the 0.9 percent gain in October.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.

Tag:

Associated Press