Construction Spending in U.S. Unexpectedly Climbed in October

Construction spending in the U.S. unexpectedly rose in October, lifted by the biggest gain in residential projects in six months.

The 0.7 percent increase matched the previous month’s gain and brought spending to $802.3 billion, Commerce Department figures showed today in Washington. The median estimate of economists in a Bloomberg survey called for a 0.3 percent drop.