Data Shows Rise in U.S. Construction Spending

Data Shows Rise in U.S. Construction Spending

Commercial News » North America Commercial News Edition | By WPJ Staff | October 22, 2013 11:05 AM ET

An increase in residential building in August helped push the pace of construction in the United States to its highest level since 2009, according to government data released today.

Total construction for August was $915.1 billion, a 0.6 percent increase above the upwardly revised $909.4 billion in July, the Commerce Department reported.

Housing construction was up 1.2 percent in the month; single family home construction increased 1.6 percent and apartment construction rose 3.2 percent.

The sector was aided by a 0.4 percent rise in public construction projects.

While the data showed small increases in state and local funding, federal spending on construction projects dropped 3.8 percent, the lowest level since 2008, the Associated Press reports.

The report was originally due for release Oct. 1, but was delayed by the government shutdown.

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