US construction spending beats expectations in October

WASHINGTON, Dec 2 (Reuters) - U.S. construction spending increased more than expected in October, boosted by single-family homebuilding. The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September. Economists polled by Reuters had forecast construction spending climbing 0.2%. Construction spending advanced 5.0% on a year-on-year basis in October.
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