U.S. construction spending rises in October

Investment in U.S. construction rose by 0.4 percent in October, according to the U.S. Commerce Department, exceeding estimates of 0.2 percent by economists in a Reuters poll. Residential construction spending spiked by 1.5 percent, including a 0.8 percent increase in the single-family sector. On a year-over-year basis, total investment was up 5.0 percent in October.