Home construction spending takes another hit

Although the total value of public and private construction spending ticked higher in September, spending on residential construction fell for the 19th straight month, according to data released today by the U.S. Census Bureau.

In the private sector, residential construction spending sank 1.4 percent between August and September, falling to a seasonally adjusted annual rate of $511.4 billion compared with $518.6 billion in August. more...

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