US Construction Spending Up

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US spending on construction rebounded in October after a dip in September, helped by a rise in home building, the Commerce Department says.

Total construction spending rose to an annual rate of $US971.0 billion ($A1.1 trillion), 1.1 per cent above the revised September figure.

The increase was almost double the consensus prediction from analysts.

Over the first 10 months of the year, construction spending was 5.8 per cent higher than the same period in 2013.

Construction spending in the private sector increased 0.6 per cent in October, pulled higher by a 1.3 per cent rise in home building. Nonresidential construction slipped by 0.1 per cent.

Public construction spending, a much smaller part of the overall figure, rose 2.3 per cent.

That included a 2.2 per cent rise in educational construction and a 1.1 per cent rise in highway building.


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