Construction Spending Jumps in August

U.S. construction spending rose 0.8% in August, the largest increase since September 2008, the Commerce Department said Thursday.

The increase followed a revised 1.1% drop in July. Spending was forecast to drop 0.1% from July, Bloomberg reported.

Total non-residential construction fell 0.4%, and was down 4.7% from a year earlier.

Private residential construction declined 0.1%, while public construction dropped 1.1%, Bloomberg said.

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