U.S. construction spending inches up

WASHINGTON — The U.S. Department of Commerce has announced that construction spending during October was estimated at a seasonally adjusted annual rate of $908.4 billion, 0.8% above the September estimate of $901.2 billion. The October figure is 5.3% above the October 2012 estimate of $863.1 billion. During the first 10 months of this year, construction spending amounted to $747.0 billion, 5.0% above the $711.7 billion for the same period in 2012.