Business

US construction spending rises 0.2 pct in March

By Josh Boak
Published May 1, 2014 2:25pm ET
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US construction spending rises 0.2 pct in March
In this Tuesday, April 29. 2014 photo, workers position iron girders at a building construction site, in Boston. The Commerce Department reports on U.S. construction spending in March on Thursday, May 1, 2014. (AP Photo/Steven Senne) | Steven Senne

WASHINGTON (AP) — U.S. construction spending rose slightly in March, fueled by increases for apartments, single-family homes, factories, health care centers and office projects.

The Commerce Department said Thursday that construction spending increased just 0.2 percent in March after having fallen 0.2 percent in February. The March gains put construction at a seasonally adjusted annual rate of $942.5 billion, an 8.4 percent increase year-over-year.

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