Construction spending up for third straight month

Builders began work on more homes and the government boosted its investment in federal construction projects in November, marking a third straight monthly increase in construction activity after a dismal summer.

Construction spending increased 0.4 percent in November, the Commerce Department said Monday [Jan. 3]. Still, building activity is only 2.3 percent higher than in August, when it had fallen to the lowest level in a decade, according to a Jan. 3 Architectural Record report.

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