
WASHINGTON (MarketWatch) -- Spending on U.S. construction projects hit a two-month high in November, rising by 0.1% on strong outlays for public, state and local construction projects, the Commerce Department reported Wednesday.
Spending on home construction, meanwhile, continued its slide, falling by 2.5% in November following a drop of 2.3% in October. It's the 21st consecutive decline.
The overall number was a surprise. Economists surveyed by MarketWatch had been expecting construction spending to fall by 0.5% in November.
On a year-over-year basis, however, construction spending is down by 0.1%.
Spending on state and local projects and also on overall public construction rose 2.5%, more than double their paces from a month earlier.