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Oct construct spending +1.4%, well above....>

US DATA
US DATA: Oct construct spending +1.4%, well above +0.5% expected, 
while Sept construct unrev at +0.3% and Aug rev up to +0.5% (prev +0.1%). 
- Private residential building +0.4%, with 1-family +0.3%, multi-family 
-1.6% and building ex. new homes +1.4% based on an MNI calculation.
- Private nonresidential building +0.9%, with gains in office, lodging 
and manufacturing construction, but declines in power and commercial.
- Public construction +3.9%, largest gain since Oct 2014. State and 
local building +3.3%, Federal construction +11.1%, also the largest 
since Oct 2014.
- The data suggest that fixed investment and government spending started 
off 4Q solidly above the 3Q average.

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