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Construction


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November 4, 2008

September construction spending better than expected

  • A rebound in nonresidential activity resulted in a 0.3 percent drop in overall spending, less than the expected 0.8 percent.

    • WASHINGTON (AP) — Construction spending fell by a smaller-than-expected amount in September as a rebound in nonresidential activity helped offset further weakness in home building.

    The Commerce Department on Monday reported that construction spending dropped by 0.3 percent in September, less than the 0.8 percent decline many economists had been expecting. Spending had risen by 0.3 percent in August after a huge 2.4 percent plunge in July.


     
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