Oct. Construction Spending Rises 1.1%

Construction spending gained 1.1% in October, the Commerce Department said Tuesday, and is 3.3% above the October 2013 level.

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In September, construction spending dipped a revised 0.1%, first reported as a 0.4% decrease.

Spending on private construction grew 0.6% in the month, while public construction rose 2.3%.

Residential construction gained 1.3% and single-family housing climbed 1.8% in the month.

Multi-family housing increased 1.0%.

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


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