U.S. construction spending surprises with November rebound

Larry Stewart Editor, Scaffold & Access

09 January 2023

U.S. construction spending unexpectedly rebounded in November, lifted by gains in nonresidential structures, but single-family homebuilding continues to be hammered by higher mortgage rates.

The Commerce Department said the seasonally adjusted annual rate of construction spending edged up 0.2% in November after slipping 0.2% in October. Economists polled by Reuters…

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