Construction Spending in U.S. Climbs to Highest Level Since 2009
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Construction spending climbed in September to the highest level in almost three years, led by a rebound in homebuilding that is rippling through the U.S. economy.
The 0.6 percent rise brought outlays up to $851.6 billion, the most since October 2009, and followed a revised 0.1 percent August drop that was smaller than previously estimated, the Commerce Department reported today in Washington. The median estimate of 48 economists surveyed by Bloomberg was for a 0.7 percent gain.