US construction spending picks up speed in November

US construction spending picked up in November, reaching the highest level since April 2006 -- well before the onset of the financial crisis, the Commerce Department reported Tuesday. The 0.9 percent increase in total construction spending compared to October was driven by solid gains in private and public building projects, and jumped to an annual rate of $1.18 trillion, adjusted for seasonal factors. Private and public spending increased for residential and non-residential construction, howeve