Aug. Construction Spending Rises 0.7%

Construction spending increased 0.7% in August, the Commerce Department said Thursday, and is 13.7% above the August 2014 level.

In July, construction spending rose 0.4%, first reported as a 0.7% increase.

Spending on private construction grew 0.7% in the month, while public construction gained 0.5%.

Residential construction gained 1.3%.

Economists polled by Thomson Reuters predicted a 0.5% increase in construction spending.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER