U.S. Construction Spending Increased in September

By Eric MorathFeaturesDow Jones Newswires

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

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.

Continue Reading Below

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.

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)