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US builders boost spending in October by largest amount in 5 months, led by housing

Posted on 04 December 2012

U.S. builders increased their spending on construction projects in October by the largest amount in five months, led by a surge in housing. The Commerce Department said Monday that construction spending rose 1.4 percent in October. It was the largest gain since a 1.7 percent increase in May.
The increase raised spending to a seasonally adjusted annual rate of $872.1 billion. That is nearly 17 percent higher than a 12-year low hit in February 2011………………………………………..Full Article: Source


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