Housing Construction Rises in August

The Commerce Department reports a 0.8 percent increase in construction spending in August following a revised decline of 1.1 percent the prior month.

While nonresidential project spending slipped 0.1 percent to an annual rate of $372.6 billion, outlays for private residential building climbed 4.7 percent -- the biggest gain in almost 16 years -- to an annual rate of $249.5 billion.

Source: Wilmington News Journal (10/02/09)