U.S. home construction spending up in September

WASHINGTON — Spending on residential construction edged up by 0.6% to a rate of $556.4 billion in September, the U.S. Commerce Department reported. A dip in spending on government projects, however, dragged the overall pace. Taken together, construction spending was essentially unchanged, representing the lowest level since June. The September SAAR of $1,329.5 billion was nearly the same as the revised August estimate of $1,328.8 billion, and a 7.2% gain on last September’s estimate of $1,240.4 billion.