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12/2/2013 10:25:00 AM Write a Letter to the Editor Write a letter to the Editor

Construction Spending Rises 0.8% in October

Ken James/Bloomberg News

Construction spending rose 0.8% in October to the highest pace in six years, the Commerce Department reported Dec. 2.

The increase brought spending to an annual $908.4 billion rate. Spending declined 0.3% in September, the Associated Press reported.

The October pace was the best since May 2009, driven in part by a 3.9% rise in public spending. Federal spending increased 10.9%, suggesting the partial government shutdown had little impact on public spending, AP reported.

Home construction dipped 0.6% in October from September, but in the past 12 months it has increased 17.8%.

Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.

By Transport Topics

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