Thursday, October 18, 2018
News: Page (1) of 1 - 12/01/11 Email this story to a friend. email article Print this page (Article printing at page facebook
Construction spending rises for 3rd straight month
US construction spending rose 0.8 percent in October, third straight gain; home building up
By The Associated Press

WASHINGTON (AP) ' U.S. builders spent more in October on new homes, offices and shopping centers, pushing construction spending up for a third straight month. Despite the gains, construction spending remained depressed.

The Commerce Department says construction spending rose 0.8 percent in October to a seasonally adjusted annual rate of $798.5 billion. That's barely half the $1.5 trillion that economists consider healthy. Through the first 10 months of this year, construction spending is 2.9 percent below the depressed levels of 2010.

The construction industry was hit hard from the housing bust and has had trouble recovering from the recession. Analysts say it could be four years before construction returns to healthy levels.

Page: 1


Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines