April 26, 2024 7:38 pm
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Construction spending claws up 1.1 percent in October

Jphilipg / Flickr
Jphilipg / Flickr

By Eric Jay Toll | Phoenix Business Journal

Spending on construction in October almost hit $971 billion across the U.S. in October, climbing 1.1 percent over September.

It was an anemic increase, but the biggest since last December’s 2 percent rise over the prior month. For the year-over-year comparison, construction spending is up 3.3 percent.

The report by the U.S. Census Bureau said that the rise in October is the first increase of more than 1 percent in 11 months. Construction spending has been flat for a year. Continuing at its pace, construction will top $970 million for the year, a 1 percent increase over 2013. At least the number is up, but 2012 and 2013 both were higher than 8 percent over the prior years.

Continued:

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