U.S. Construction Spending Hits a New Post-Recession High

Source: Wall St. Journal

According to the Commerce Department, total construction spending climbed 0.7 percent from the prior month to a seasonally adjusted annual rate of $1.083 trillion, which is the highest level since May 2008. Since U.S. construction spending rose to the highest level in more than seven years in July, it appears that the construction sector overall is one of the strongest parts of the economy and could help fuel growth. Private building led the way, with both residential and nonresidential construction hitting new post-recession highs.
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