November Construction Spending Rises 0.2%

onstruction spending rose 0.2% in November for a fifth straight month, the Commerce Department reported Tuesday.

he rate rise to a record $1.15 trillion annual rate from $1.13 trillion in October, said Commerce, which revised upward October’s increase to 0.8% from an originally reported 0.7%.

onstruction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.

Private non-residential construction rose 0.6% following a 0.6% increase. Overall non-residential construction rose 0.5%.

Construction spending by the federal government jumped 7.8% from a year earlier. For the month, government construction spending rose 0.3% compared with October, following a 1.7% jump that month.