October Construction Spending Unchanged, Commerce Says
U.S. construction spending was unchanged in October following five straight declines, the Commerce Department said Tuesday.
September’s construction spending, which was originally reported as a 0.8% increase, fell 1.6%, Commerce said in a revision.
October spending was forecast to drop 0.5%, Bloomberg reported.
Private residential construction jumped 4.4% following a 2% decline in September. Non-residential construction fell 1.5%, while public construction fell 0.4%.
Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.
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