homeWelcome, sign in or click here to subscribe.login
     


 

 

Construction


Subscriber content preview

November 2, 2016

Lack of government projects drags down construction spending

WASHINGTON (AP) — U.S. builders cut their spending on construction projects in September, the second straight monthly decline. Much of the decrease came as government spending for schools, sewers and transportation projects tumbled — part of a broader yearlong decline as infrastructure funding has become a key policy issue in the presidential election.

The Commerce Department said Tuesday that total construction spending fell 0.7 percent in September to a seasonally adjusted annual rate of $1.15 trillion. Publicly funded construction dropped 0.9 percent to an annual rate of $270.3 billion. Over the past 12 months, government construction has slumped 7.8 percent — a decline equal to nearly $23 billion.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.