U.S. construction spending highest in nearly five years

U.S. construction spending rose to its highest level in nearly five years in November as a surge in private construction projects offset a drop in public outlays. Construction spending increased 1 percent to an annual rate of $934.4 billion, the highest level since March 2009, the Commerce Department said on Thursday. It was the eighth straight month that construction spending increased. Construction spending in October was revised to show a 0.9 percent rise instead of the previously reported 0.8 percent increase.

via Business News - Yahoo Finance http://finance.yahoo.com/news/u-construction-spending-highest-nearly-150143338.html