Posted To: MND NewsWire
Construction spending rose only slightly in October, with residential construction coming in stronger than most other sectors. The Census Bureau said overall spending during the month was at a seasonally adjusted annual rate of $1.172 trillion, up 0.5 percent from September. The September total, originally reported as down by 0.4 percent was revised upward and is now unchanged from August at $1.167 trillion. Spending was higher than in October 2015 by 3.4 percent. Analysts polled by Econoday were expecting an increase of 0.6%. Estimates ranged from 0.4 to 0.8 percent. Private sector spending was at a seasonally adjusted rate of $885.9 billion, a 0.2 percent increase and up 4.7 percent from a year earlier. Most private sector construction categories fell in August, only residential, transportation...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2gPUfC3
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