Thursday, December 1, 2011

Construction Spending Rose 0.8% in October

Led by strong private sector gains, construction spending rose 0.8% in October according to a Census Bureau report released this morning. The growth is stronger than September’s weak 0.2% but remains at relatively low levels.

Private construction led the gain, growing by 2.3%, its fastest rate since May. Private residential construction was the primary contributor to the growth, up 3.4% from September. Non-residential growth was strong as well, growing 1.3%. Public construction spending proved a drag on growth falling 1.8%.

Read the report.

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