Construction spending rises 0.7 percent in October

Washington • Construction spending rose for the second straight month in October, pushed up by growth in residential construction and government building projects . The Commerce Department says construction spending increased 0.7 percent in October, matching the 0.7 percent gain in September. It marked the first time that construction activity has risen for two straight months since March and April. Spending rose in October to a seasonally adjusted annual rate of $802.3 billion. Even with the ga...