US construction spending up again, rises 0.3% in September
U.S. construction spending rose 0.3% in September, the fourth straight monthly gain after a coronavirus-caused spring swoon
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Your support makes all the difference.U.S. construction spending rose 0.3% in September, the fourth straight monthly gain after a coronavirus-caused spring swoon.
The Commerce Department reported Monday that the September gain followed followed a revised gain of 1.3% in August. Spending on residential construction was strong yet again, with single-family home projects jumping 5.7%. Demand for single-family homes remains strong as buyers rush to the market pushed by historically low interest rates under 3%.
Total residential construction was up 2.7%, while government construction spending fell 1.7%.
Spending on non-residential private construction fell by 1.5%.
During the first nine months of 2020, construction spending is up 4.1% over the same period last year.