U.S. builders boosted spending on construction projects for a second straight month in November, pushing activity to the highest level in more than a decade.
Construction spending rose 0.9 percent in November after a 0.6 percent increase in October, the Commerce Department reported Tuesday. The increase reflected solid gains in home construction, nonresidential building and government construction activity.
The gains in all three categories pushed total construction to a seasonally adjusted annual rate of $1.18 trillion, the highest point since April 2006 when a housing boom fueled building.
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