Monday, October 3, 2011

Construction Spending Rose 1.4% in August

Construction spending in August increased 1.4% from July and is 0.9% higher than its year-ago level. This represents the first year-over-year growth in nearly three years.

All three main areas of spending increased in August, with public spending posting an unexpectedly large increase of 3.1% after a fall of 1.5% in July. Both residential and nonresidential private spending rose by 0.7% and 0.2% respectively.

Read the report.

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