Construction spending declines in October

Investment in building construction fell by 1.1 percent, or $243.3 million, to $21.4 billion in October, StatCan reports, after a 2.6 percent increase in September. Year over year, construction spending grew by 3.4 percent in October. Investment in the residential sector declined by 2.1 percent to $14.9 billion, but single-family spending was up 1.6 percent to $7.1 billion.