August construction spending up 1.4%, led by home building
AP Economics Writer | Hagadone News Network | UPDATED 5 years, 2 months AGO
WASHINGTON (AP) — U.S. construction spending increased 1.4% in August, led by a surge in single-family homes.
The gain was double the 0.7% increase in July, the Commerce Department reported Thursday.
Spending on residential construction rose 3.7% ,with a 5.5% rise in spending on single-family homes offsetting a 0.1% dip in apartment construction, a smaller an more volatile sector.
Spending on nonresidential construction fell by 0.3% with hotels, office building and shopping centers all suffering declines.
Total government construction rose a slight 0.1% with spending on highway projects up 1.9%.
ARTICLES BY AP ECONOMICS WRITER
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.