WASHINGTON - Construction spending increased 0.4% in November, stronger than economists expected, as private construction continued to gain, the Commerce Department reported Monday.
Private construction increased 0.3% for the month, the third consecutive monthly rise. Private residential construction increased 0.7% as nonresidential construction slipped 0.1%.
Economists expected total construction spending would increase 0.2%, according to the median estimate from Thomson Reuters.
October’s total construction spending was unrevised at a 0.7% increase. But private construction was revised higher to a 1.4% gain from the 0.8% rise reported last month.
September construction spending was revised higher to a 1.2% rise from the 0.7% increase seen previously.
Public construction increased 0.7% in November as federal construction jumped 8.2%, the largest increase since June. Public construction in October was revised lower to a 0.5% decline from a 0.4% increase.
