US construction spending falls 0.3% in October

By Ovunc Kutlu

ISTANBUL (AA) - US construction spending fell 0.3% to $1,794.9 billion in October, according to data released Thursday.

Construction spending, one of the major indicators of well-being in the construction sector, was in line with market expectations.

The figure for September was revised to $1,800.1 -- a 0.1% increase from August, Commerce Department figures showed.

The October figure is 9.2% higher than the same month a year ago when it stood at $1,644.3 billion.

While spending on private construction fell 0.5% in October from the previous month, public construction spending rose 0.6% month-on-month, according to the agency.