Also, U.S. construction spending surged 1.9% in October after a revised 0.7% drop in September (down 0.4% previously). Both public and private spending climbed, with public spending up 3.4% and private rebounding 1.5%.
And there was a record monthly gain in personal spending in October, signaling that consumers may not be as troubled by the economy and the war in Afghanistan as many have thought. U.S. personal spending jumped a record 2.9% in October after a revised 1.7% drop in September (down 1.8% previously). Personal income was unchanged, after a revised unchanged figure in September (down 0.1% previously).