×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: construction | spending | October | govenment

US Construction Spending up 0.8 Percent in October

Monday, 02 December 2013 10:21 AM EST

U.S. developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government buildings. The increase suggests the 16-day partial government shutdown didn't slow public projects.

The Commerce Department says construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion. That's up from September, when spending fell 0.3 percent.

The October pace was the best since May 2009. Spending has increased 5.3 percent in the 12 months ending in October.

A 3.9 percent surge in public buildings drove the October increase. But construction of private homes and commercial projects fell 0.5 percent.

Both the October and September figures were released Monday, after reporting was delayed due to the shutdown in October.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
U.S. developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government buildings.
construction,spending,October,govenment
126
2013-21-02
Monday, 02 December 2013 10:21 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved