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.