Total Spent On Building Jumps 1.9%

Builders increased spending on construction projects in November at the fastest pace since last March, although they held single-family housing out-lays in check for a third straight month.

The Commerce Department reported Friday that overall spending on residential, non-residential and government projects shot up 1.9 percent in November to $592 billion. It was the third straight increase and the biggest since a 2.3 percent gain in March.

Analysts had expected little change, contending recent sharp increases in non-residential and public outlays could not be sustained.

Despite analysts’ predictions, government outlays jumped 2.5 percent in November to a $150.3 billion rate. And spending on private, nonresidential buildings rose 1.5 percent to $152.3 billion.

Residential spending also rose, up 1.2 percent to $247.6 billion. But the increase was limited to condominiums and apartment projects.

Spending on single-family construction - more than 25 percent of total construction outlays - slipped 0.3 percent.

In other reports this week:

The National Association of Purchasing Management said its index rose to 54 percent last month from 52.7 percent in November.

The Conference Board said its Consumer Confidence Index for December rose 4.3 points to 113.8.