FILE- In this Nov. 29, 2018, file photo an Ironworker helps to construct a building in Philadelphia. On Monday, Dec. 3, the Commerce Department reports on U.S. construction spending in October. (AP Photo/Matt Rourke, File)

US construction spending down 0.1% in October

December 03, 2018 - 10:07 am

WASHINGTON (AP) — Spending on U.S. construction projections fell 0.1% 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% drop in September and followed a 0.4% 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 0.5%, while non-residential construction retreated 0.3% as declines in construction of medical facilities and shopping centers offset a gain in office construction. Government spending was up 0.8% in October, a rebound that reflected gains in both state and local projects and federal spending.

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