Construction Spending Up 0.5%

Construction spending rose 0.5% in October as increased activity in residential building offset a big drop in construction of shopping centers, the Commerce Department said today.

The department said the October increase followed a 0.4% September advance that had originally been reported as a much stronger 1.9% rise. The October gain was the biggest since a 1.1% jump in June and was 9.3% ahead of spending in October, 1984.