US DATA: Nov construct spending +1.2% after mixed revisions in the prev
two months. Private constr +1.0% in Nov, while public building +1.7%.
Private residential spending +2.0%, with 1-fam building +1.5%, and
multi-family building +1.3%. An MNI calculation shows residential
building excluding new homes +2.6% after +4.5% in Oct. Private nonres
building flat, with gains in power and transport offset by declines in
office, commercial, and manufacturing. The sharp rebound in public
spending was due to a 5.3% jump in Federal spending and a 1.3% rise in
State and Local govt spending.