Posted December 1, 2011
Construction spending rises
Construction spending rose by 0.8 percent in October to a seasonally adjusted annual rate of $798.5 billion, according to the Department of Commerce.
The October figure is 0.4 percent below the October 2010 estimate of $802.0 billion.
During the first 10 months of this year, construction spending amounted to $655.5 billion, 2.9 percent below the $675.4 billion for the same period in 2010.
Spending on private construction was 2.3 percent above September. Public construction spending was 1.8 percent below September's level.
