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News Summary: US construction spending up

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The Associated Press | October 22, 2013 03:58 PM EST | AP


BUILDING: Spending on U.S. construction projects rose 0.6 percent in August, as gains in residential building helped push overall construction activity to the fastest pace in more than four years.

DETAILS: Housing construction rose 1.2 percent, including a 1.6 percent rise in single-family construction and a 3.2 percent increase in the apartment sector. Non-residential construction rose 0.1 percent. Spending on government projects rose 0.4 percent.

DELAY: The construction report had been scheduled to be released on Oct. 1 but was delayed until Tuesday because of the 16-day partial government shutdown.