Construction Spending Rises in September

Construction spending edged up 0.2% in September, the second straight monthly increase, the Commerce Department said Tuesday.

The increase followed a revised 1.6% jump in August that was higher than previously estimated, Commerce said.

The September upturn was slightly less than economists’ forecasts of a 0.3% increase, Bloomberg reported.

Private construction spending rose 0.6%, while homebuilding spending gained 0.9%, the biggest gain since May.

Public construction spending declined 0.6%. Federal construction spending dropped 6.8% in September to $27.5 billion, the lowest level since January 2010.

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