Construction Spending Rises in September

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

The increase followed a revised 0.1% drop in August, which was originally reported as a 0.8% gain. Spending was forecast to drop 0.2% from August, Bloomberg reported.

Total non-residential construction fell 0.4%.

Private residential construction grew 3.9%, the biggest gain since July 2003, while public construction rose 1.3%, Bloomberg said.

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