U.S. construction spending jumps to near six-and-a-half year high

U.S. construction spending surged in April to the highest level in nearly 6-1/2 years as outlays increased broadly, pointing to some pockets of strength in the economy. Construction spending jumped 2.2 percent to an annual rate of $1.0 trillion, the highest level since November 2008, the Commerce Department said on Monday. Economists polled by Reuters had forecast construction spending rising 0.7 percent in April.