Wells Fargo: Construction Spending Rises in October as Residential Gains Offset Nonresidential Declines

According to data from the U.S. Department of Commerce and Wells Fargo Economics, construction spending advanced by 0.4 percent in October. This was buoyed by a notable uptick in residential outlays that compensated for declines in nonresidential activity. The month’s performance reflects shifting dynamics in the construction industry, with residential spending continuing to gain momentum […]