U.S. Construction Spending Increases

U.S construction spending jumped 1.3 per cent in October, the fifth straight monthly increase, and the largest increase since January, pre-pandemic, says the U.S. Commerce Department. Single-family home building had the biggest increase with construction up 5.6 per cent in October, helping to boost a 2.9 per cent increase in total private residential construction for the month. Non-residential private construction fell 0.7 per cent, and spending on government construction projects increased one per cent.