Construction Spending Up 3 of Last 4 Months

January 4, 2012

Public expenditure and gains in the housing market helped push construction spending up 1.2% in November. Federal construction spending was up 5.3% to $27.6 billion -- the biggest gain since August, according to Commerce Department data.

Record gains in the housing market, thanks to mortgage rates dipping to near-record lows, are helping the construction industry recover from the recession, Bloomberg says.

Source: AGC