- Associated Press - Monday, November 1, 2010

WASHINGTON (AP) — Construction spending, after having fallen to the lowest level in a decade, edged up slightly in September as a gain in residential activity and government projects helped offset weakness in commercial projects.

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

Even with the small September gain, construction activity remains 34 percent below its peak in 2006, when builders were enjoying a boom in residential housing. That boom turned into a bust that helped drag the country into a severe recession.

 

LOAD COMMENTS ()

 

Click to Read More

Click to Hide