Construction spending in the United States climbed to an all-time high in December, helping to push building for all of 2005 to a record as well. The Commerce Department reported that spending rose by 1 percent in December as private construction and government spending on building activities set records. For the year, spending to construct homes, offices, highways and other building projects totaled a record $1.120 trillion (930 billion euros), up 8.9 percent from the previous record of $1.028 trillion spent in 2004.
Construction has been enjoying boom times, led by the red-hot housing market, which has enjoyed record sales over the past five years spurred by the lowest mortgage rates in more than four decades, reports the AP.
The United States does not recognize the entry of Ukrainian territories into Russia. Such a development will seriously complicate prospects for a diplomatic settlement