Construction Spending Keeps Heat On Building Groups
Construction spending climbed 9.6% year-over-year in October, according to the Commerce Department, to an annualized rate of $872 billion. That was the highest rate in 37 months, according to the Associated General Contractors, and nearly triple the level forecast by analysts. The spending gains, combined "with hefty upward revisions to estimates for the previous two months, show that construction has finally come out of its long slump," said Ken
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