Construction Spending Rises in September

Washington, DC, Nov. 1, 2012 -- Construction spending rebounded in September, the Commerce Department reported Thursday.

Construction spending rose 0.6% in September and was at its highest level since 2009.

The government also revised spending higher for the last two months.

The decline in August construction spending was revised up to a 0.1% decline from the previous estimate of a 0.6% drop.

The 0.4% drop in July was revised to an 0.2% gain.

In September, private construction spending increased 1.3% while spending on public projects fell 0.8%. Spending on private homebuilding rose 2.8%.

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