US construction spending flat in September
WASHINGTON (AP) — Spending on U.S. construction projects was essentially unchanged in September. It is the weakest showing since June, as an increase in home construction was offset by a slide in spending on government projects.
The Commerce Department says that the flat reading for September followed a 0.8 percent rise in August.
The strength last month was driven by a 0.6 percent increase in residential construction and a smaller 0.1 percent increase in nonresidential activity, which pushed this category to an all-time high. However, these gains were offset by a 0.9 percent drop in spending on government projects.
The increase in residential construction featured an 8.7 percent jump in apartment construction, which offset a 0.8 percent drop in single-family homes.