US DATA: Nov construction spending +0.4%, above the +0.1% reading
expected. Priv resident constr +0.7% in Nov, with 1-fam constr +0.6%,
multi-family +3.0%. An MNI calc shows priv resident constr ex new homes
+0.4% in Nov, a third consecutive gain that suggests remodeling activity
remained solid. Private nonres constr -0.1% on declines in a variety of
key components. Public constr +0.7%, with federal spending +8.2% to
another record high level.
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