Housing Starts Rise in September

Spending on construction rose 0.5 percent in September with home building and government projects leading the way, the U.S. Commerce Department reported Monday.

Spending on home building rose 1.8 percent, but the increase was offset by spending on commercial construction, which dropped 1.6 percent. Overall, non-residential construction was at the lowest level since January 2005.

Housing starts rose 0.3 percent in September, the Commerce Department said, to a seasonally adjusted annual rate of 610,000 units – still low, but improving.

Source: Bloomberg, Courtney Schlisserman (11/01/2010)

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