Construction Spending Rises in November but Misses Expectations
• Construction spending rose 0.4% in November to $2.04 trillion, falling short of economist expectations of a 0.6% increase
• Construction spending has risen every month in 2023 as of November
• The more the U.S. spends on construction, the higher the level of economic activity
• Private residential construction rose 1.1% in November, with single-family up 2.9% and multi-family up 0.1%
• Public residential construction spending fell 2.2% in November