December 1, 2008 Elad Bushari

U.S. construction spending fell a steeper-than-expected 1.2 percent in October after the prior month was revised to unchanged, a Commerce Department report showed on Monday.

Analysts polled by Reuters ahead of the report were expecting a 1.0 percent decrease in overall construction spending after a 0.3 percent drop originally reported for September.

Private home building was off 3.5 percent, the sharpest fall since a 6.2 percent decline in July, while total public construction rose 0.7 percent.

Source: Reuters

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

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