Construction Spending Rises 1% in October

WASHINGTON —  Construction spending rose 1% in October, the government said Friday in a report providing evidence that a slump in the building industry may be ending.

The Commerce Department said spending rose $4.2 billion to a seasonally adjusted annual rate of $420.1 billion in October. The increase followed no change in September and a 1.5% gain in August. Construction spending had fallen in July and June.