U.S. construction spending increased in October to a seven-month high amid gains in home building and public outlays, and estimates for the prior two months were revised sharply higher, pointing to strength in the sector.
China's economy expanded at a steady 6.7% in the third quarter and looks set to hit Beijing's full-year target, fueled by stronger government spending, record bank lending and a red-hot property market that are adding to its growing pile of debt.
It has now been just over a week since the European Union referendum resulted in a shock exit outcome which caused the pound and stock markets to plunge.
U.S. housing starts slipped in May as the construction of multi-family housing units dropped, but further gains in building permits suggested a rebound that would continue to support economic growth in the second quarter.
U.S. construction spending climbed in August to the highest level since 2008, boosted by a surge in outlays for residential projects and giving a sign the housing market was helping the overall economy.
Growth braked more than expected in Q1 as harsh weather dampened consumer spending.
A stronger economy caused companies to boost hiring, leading to a positive cycle f job growth and increased spending.
Caterpillar Inc. revenue and stock forecasts trail analyst's estimates for mining and construction equipment.

New residential construction in the U.S. rose more than forecast in December, capping the best year since 2007 and signaling the industry will probably keep expanding this year.

Construction activity was tempered somewhat during May as the pace of multi-unit starts pulled-back from a strong April.