US construction spending down 0.1 percent in October

WASHINGTON (AP) — Spending on U.S. construction projections fell 0.1 percent in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a rebound in government projects.

The Commerce Department says the October decline matched a similar 0.1 percent drop in September and followed a 0.4 percent fall in August. Construction has been weak since peaking in May with declines in four of the five months since that time, reflecting in large part the struggles that home builders face

In October, home building fell 0.5percent, while non-residential construction retreated 0.3 percent as declines in construction of medical facilities and shopping centers offset a gain in office construction. Government spending was up 0.8 percent in October, a rebound that reflected gains in both state and local projects and federal spending.