Please ensure Javascript is enabled for purposes of website accessibility
August Construction Spending Up 1.4%, Led by Home Building
gvw_ap_news
By Associated Press
Published 5 years ago on
October 1, 2020

Share

WASHINGTON — U.S. construction spending increased 1.4% in August, led by a surge in single-family homes.

The gain was double the 0.7% increase in July, the Commerce Department reported Thursday, and the August gain was better than economists had been expecting. In an additional sign of strength, the government revised higher its earlier estimates for spending in July and June.

Spending on residential construction rose 3.7% ,with a 5.5% rise in spending on single-family homes offsetting a 0.1% dip in apartment construction, a smaller an more volatile sector.

Spending on nonresidential construction fell by 0.3% with hotels, office building and shopping centers all suffering declines.

Total government construction rose a slight 0.1% with spending on highway projects up 1.9%.

“While the outlook for nonresidential and public construction is less certain, the trend in residential should improve further, reflecting strong demand for homes as seen in new and existing home sales,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

Fresno Police Arrest Woman Wanted in 2023 Homicide, One Still at-Large

2 hours ago

ICE Protest Scheduled Today in Downtown Fresno

2 hours ago

Health Care Is a Lifeline. The Central Valley Deserves Better.

When I talk about health care, it’s personal. Noe Garcia Opinion My mother is a two-time cancer survivor, fighting a lifelong battle wit...

32 minutes ago

32 minutes ago

Health Care Is a Lifeline. The Central Valley Deserves Better.

Protesters hold placards as they gather around the Los Angeles Federal Building following multiple detentions by Immigration and Customs Enforcement (ICE), in downtown Los Angeles, California, U.S., June 6, 2025. REUTERS/Daniel Cole
1 hour ago

‘Everybody Stood up’: Why a Union Leader’s Arrest Galvanized California Democrats on Immigration

A Fresno man already jailed, Michael Fitch (pictured), 35, for a 2021 homicide has been charged in the 2022 shooting death of Ursolo “Frank” Sermeno after DNA evidence linked him to the crime, police said. (Fresno PD)
2 hours ago

Fresno Inmate Charged in 2022 Killing More Than Three Years After Crime

Fresno police arrested a woman wanted for a 2023 homicide and identified two additional suspects, including one still at large. (Fresno PD)
2 hours ago

Fresno Police Arrest Woman Wanted in 2023 Homicide, One Still at-Large

2 hours ago

ICE Protest Scheduled Today in Downtown Fresno

A pair of Royal Canadian Air Force (RCAF) CF-188 Hornets fly with a United States Navy EA-18G Growler during Exercise Maple Flag 51 over Alberta, Canada June 15, 2018. OS Erica Seymour/Canadian Forces/Handout via REUTERS/File Photo
3 hours ago

Canada Promises to Boost Defense Spending, Meet NATO Target Much Earlier

China’s export restrictions on samarium, a rare earth metal essential for U.S. military weapons like the F-35, have exposed a dangerous reliance on Chinese supply chains and stalled domestic production efforts, deepening national security concerns amid rising global tensions. (Shutterstock)
3 hours ago

China’s Chokehold on This Obscure Mineral Threatens the West’s Militaries

Freedom Flotilla
3 hours ago

Israel Seizes Gaza-Bound Aid Ship in International Waters. Can It Legally Do That?

Help continue the work that gets you the news that matters most.

Search

Send this to a friend