The "experts" predicted a 0.4 percentage decrease in construction spending for the month of September. However, the Commerce Department reported today that spending on construction projects around the country rose by 0.3 percent.
The report also notes that spending by private builders on commercial structures climbed to an all-time high, as did spending by the government on public facilities in September.
Commercial construction is once again going strong and softening, well pretty much, negating the blow of the housing slowdown. Great news for our audience as the commercial industry continues to grow despite repeated predictions of a slow down.
Construction Spending Rebounds
October 31, 2007
