Construction spending rose in November for a third straight month, boosted by funding for homebuilding and federal government projects, the U.S. Department of Commerce said today. The 0.4 percent increase exceeded the median forecast of economists surveyed by Bloomberg News and followed a 0.7 percent gain the previous month. The median estimate called for a 0.2 percent rise. Stimulus funding spurred government spending on schools, office buildings and water supply plants in November, while tight credit and high vacancy rates restrained private investment in factories and communications facilities. Outlays on home improvements and construction, backed by low lending rates and pent-up demand, is also sustaining the industry, Bloomberg said. Private construction spending climbed 0.3 percent from the previous month.