U.S. Construction Spending Falls Sharpest Since Sep. 2001
- Private residential construction spending fell by 1.9% in October after dropping 1.4% in September. Spending on private residential construction projects has now fallen seven months in a row, the longest drop on record.
- Private construction spending dropped by a sharp 1.5% in October after falling by 1.1% in September.
- Public construction spending rose by 0.8% and spending on federal projects climbed by a hefty 11.6%.