Construction Spending Rises 0.1% in November

Construction spending rose 0.1% in November, the Commerce Department reported Wednesday.

The uptick followed a 0.4% decline in October, the department said.
 
Economists had forecast a 0.4% drop in spending, Bloomberg reported.

Private residential construction spending fell 2.5%, the biggest decline since January 2002, following a 2.3% decline the previous month.

Non-residential construction, including public projects, rose 2.1%.

Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.