US construction spending up slight 0.1% in August
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WASHINGTON — U.S. construction spending edged up a disappointing 0.1% in August as continued weakness in nonresidential construction offset the best gain in home building in nine months.
The Commerce Department says the latest figure marked the fourth month of lacklustre results, including declines in May and June and a flat reading in July. Construction in April had risen 0.6%.
Home construction, which has been in the doldrums for much of this year, was up 0.9% in August. It was the best showing since a 3.2% surge last November. Nonresidential construction declined 1% as spending on schools, hospitals and hotels were all down.
Spending on government construction projects edged up 0.4% as a gain of 0.6% in state and local spending offset a 2.2% drop in the smaller federal government category.
