US construction spending likely to rise in November

In US, for the month of November, the construction spending on month on month basis is expected to rise by 0.6% by the market consensus. Last month there was a rise of 1% in construction spending.

Solid demand exists for new homes and weather conditions are favorable, strenghtening the private construction expenditures, which likely increased in November and accounted for almost above 40 % of the expected gains last month.

"Widespread increases in private and public outlays probably propelled the nominal value of new construction put-in-place 0.7% higher in November, boosting the cumulative increase over the latest 12 months to 14.1%", says Societe Generale in a research note.