
U.S. construction spending rose to its highest level in 10 years, raising economic growth for the final quarter of 2016, according to the Commerce Department (census.gov/construction). Construction spending rose by 0.9 percent to $1.8 trillion, boosted by gains in both the public and private sector investments. Overall construction spending was up by 4.1 percent from the previous year. Construction spending in October 2016 was also strong with an increase of 0.6 percent, which prompted economists to raise their gross domestic…