Construction spending in September declined slightly from August's level but was up from its year-earlier total, the Commerce Dept. has reported.
Commerce’s latest monthly construction report, released on Nov. 3, said the value of projects put in place in September was an estimated $950.9 billion, down 0.4% from August’s revised level, but a 2.9% increase from September 2013's rate.
September's estimated spending for residential building was $354.8 billion, an 0.4% gain compared with August and also up 0.7% from September 2013.