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US construction spending falls 0.8% in October

Workers use a lift on Nov. 27 while working on a new building in Boston's Seaport district. On Monday, the U.S. Commerce Department reported that, spending on construction projects fell 0.8% in October, dragged down by declines in spending on apartment and multi-family homebuilding.(AP Photo/Steven Senne)

Workers use a lift on Nov. 27 while working on a new building in Boston’s Seaport district. On Monday, the U.S. Commerce Department reported that spending on construction projects fell 0.8% in October, dragged down by declines in spending on apartment and multi-family homebuilding. (AP Photo/Steven Senne)

By MATT OTT
AP Business Writer

WASHINGTON (AP) — Spending on U.S. construction projects fell by 0.8% in October, dragged down by declines in expenditures on apartment and multi-family homebuilding.

The Commerce Department said Monday that private-construction spending declined by 1% in October, which follows another significant 1.1% decline in September.

Spending on single-family home construction increased 1.6%, helping to offset some of the losses seen elsewhere in private construction in October.

Spending on government construction projects fell 0.2%, and state and local projects declined 0.3% and federal building increased by 0.6%.

The general decline in October comes after a downward revision of September’s number from a 0.5% increase to a 0.3% decline.

During the first 10 months of 2019, total construction, after adjusting for seasonal variations, came in at an annual rate of $1.09 trillion in October, down 1.7% from a year ago.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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