November construction spending rose 0.8 percent to an all-time high annual rate of $1.257 trillion, with private residential projects soaring 1.0 percent to the highest level since February 2007. This increase was in line with a recent jump in homebuilding and supports the view that housing would boost economic growth in the fourth quarter after being a drag to gross domestic product since the April-June period.
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Wednesday, January 3, 2018
November construction spending rose 0.8 percent to all-time high of $1.257 trillion
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