US construction spending down 01 in October

first_imgWASHINGTON — Spending on U.S. construction projections fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a rebound in government projects.The Commerce Department says the October decline matched a similar 0.1% drop in September and followed a 0.4% fall in August. Construction has been weak since peaking in May with declines in four of the five months since that time, reflecting in large part the struggles that home builders faceIn October, home building fell 0.5%, while non-residential construction retreated 0.3% as declines in construction of medical facilities and shopping centres offset a gain in office construction. Government spending was up 0.8% in October, a rebound that reflected gains in both state and local projects and federal spending.Martin Crutsinger, The Associated Presslast_img

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