Construction Spending Increases in September

Washington, DC, Nov. 1, 2010 -- Construction spending edged higher in September as a gain in residential activity and government projects helped offset weakness in commercial projects.

The Commerce Department reported that spending on building projects rose 0.5% in September after having fallen 0.2% in August to the lowest point since July 2000.

Nevertheless, construction activity remains 34% below the peak hit in 2006 when builders were enjoying a boom in residential housing.