News — Construction spending ticks up

Construction spending ticks up, led by housing The numbers: Construction spending rose 0.8% to a seasonally adjusted annual rate of $1.3 trillion in November from a revised $1.29 trillion in October, helped by housing, the Commerce Department said Friday. What happened: Economists surveyed by Econoday had forecast a 0.2% increase, but October figures were revised down. Outlays in November were 3.4% higher than a year ago, and for the first 11 months of 2018, were 4.5% higher than the same period in the prior year. Big picture: Residential construction spending was up 3.4% during the month, and was 0.6% higher...