WASHINGTON - builders began work on several Office buildings, hotels and factories in March construction spending after three straight monthly declines of lifting.
The Department of Commerce said construction rose 1.4 percent of spending in March. It was the largest advance since last April and has been helped by an increase in spending on home renovation projects.
The overall increase, however, came after construction activity fell in February to the lowest level in more than a decade. Even with the advance, activity in March stood at a seasonally adjusted annual rate of 768.9 billion, half only 1.5 trillion dollars the pace that economists consider healthy. It could take four years for the industry of construction to recover fully from the recession and housing bust.
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