Construction Spending Rises

The U.S. Department of Commerce released construction spending numbers for the month of September this morning. The figure was 0.6% higher than in August, and 7.8% higher than in September of last year. All in all, total outlays came in at an $851.6 billion seasonally adjusted annual rate.

Some 34% of the total was attributed to residential construction.

The figures, collected monthly since 1960, include both public and private construction projects, and take into account a wide variety of costs, from labor and materials to interest and taxes to contractor's profits. Private construction spending accounted for nearly 70% of the overall figures, or more than $580 billion. Of the public outlays, the vast majority were on the state and local level; less than 10% were from federal spending.

Bloomberg reports that economists had been expecting a monthly gain of about 0.7%, but that the $851.6 billion figure was the highest recorded since October of 2009.

John Divinehas no positions in the stocks mentioned above. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.

The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2089595, ~/Articles/ArticleHandler.aspx, 12/20/2014 11:23:45 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement