U.S. Construction Spending Increased in September

By Eric Morath Features Dow Jones Newswires

Spending on construction projects across the U.S. rose in September due to increased government outlays.

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Total U.S. construction spending rose 0.3% from August to a seasonally adjusted annual rate of $1.22 trillion, the Commerce Department said Wednesday.

Economists surveyed by The Wall Street Journal expected a 0.1% decrease in September.

The September gain was led by public-sector spending, up 2.6%. Private-sector spending fell 0.4% on the month, reflecting a decrease in non-residential outlays.

Construction spending in August rose a downwardly revised 0.1%, versus an earlier estimate of up 0.5%.

Spending on building rose 2% for the first nine months of 2017, compared to the same period in 2016.

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Construction spending, which is not adjusted for inflation, reached a record high early this year. Since March, the trend has largely moved sideways.

The Commerce Department report on construction spending can be found at http://www.census.gov/construction/c30/c30index.html.

Write to Eric Morath at eric.morath@wsj.com

(END) Dow Jones Newswires

November 01, 2017 10:15 ET (14:15 GMT)