Construction spending rises 0.2 percent

Construction spending rises 0.2 percent

By MARTIN CRUTSINGER
The Associated Press

Published Aug 1, 2011 08:45AM MDT

Washington • Builders began work on more office buildings, shopping centers and hotels in June, pushing construction spending higher for a third straight month. But even with the gains, activity remains at depressed levels.
Construction spending rose 0.2 percent in June to a seasonally adjusted annual rate of $772.3 billion, the Commerce Department reported Monday. That put overall spending just 1.2 percent higher than the 11-year low hit in March. It is just half of the $1.5 trillion pace consi...

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