Business News - Construction spending turns higher

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Construction spending turns higher

WASHINGTON (UPI) -- Spending on private and public construction in the United States turned higher in September compared with August, the U.S. Commerce Department said Monday.

Outlays for construction projects rose 0.8 percent to $940.3 billion at a seasonally adjusted annual rate. In August the figure for outlays was revised to 933 billion.

From a year ago, total construction outlays fell 13 percent.

Expenditures on private construction, rose 0.5 percent over August to a seasonally adjusted annual rate of $613.9 billion.

In public projects, spending rose 1.3 percent in the month to $326.4 billion with a 0.1 percent drop in educational construction and a 1 percent rise in highway spending, Commerce said.

Copyright 2009 by United Press International

This news arrived on: 11/02/2009

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