Construction Spending Falls

 

Dec. 1, 2006 -- Spending on construction projects in October fell by 1 percent to $1.178 billion, the Commerce Department said Friday.

Spending on private residential projects dropped by 1.5 percent from September, continuing a seven-month decline, while spending on public projects rose 0.8 percent, the report said.

The declines follow separate reports this week of weaker new-home sales.

-next -