Construction Spending Rises in August
Washington, DC, Oct. 22, 2013 -- Construction spending rose 0.6% in August, the Commerce Department reported Tuesday.
Economists had expected a 0.5% increase.
Spending in July was revised to a 1.4% gain from the initial estimate of a 0.6% rise.
In August, spending on residential construction rose 1.2% while nonresidential construction increased 0.1%.