Construction Spending Hits Highest Level Since 2008

November 3, 2015

Construction spending reached an annualized rate of $1.09 trillion and has increased 0.6 percent in September from the August level, according to the Census Bureau.

That's the highest spending level since March 2008. Between August and September, spending on multifamily construction rose 4.9 percent and public construction by 0.7 percent. However, nonresidential construction fell 0.1 percent.