August Construction Spending Up 1.4%, Led By Home Building

WASHINGTON: U.S. construction spending increased 1.4% in August, led by a surge in single-family homes.

The gain was double the 0.7% increase in July, the Commerce Department reported Thursday.

Spending on residential construction rose 3.7% ,with a 5.5% rise in spending on single-family homes offsetting a 0.1% dip in apartment construction, a smaller an more volatile sector.

Spending on nonresidential construction fell by 0.3% with hotels, office building and shopping centers all suffering declines.

Total government construction rose a slight 0.1% with spending on highway projects up 1.9%.

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