Construction spending unchanged in September after strong gain in prior month

Outlays for U.S. construction projects was flat in September at a seasonally adjusted annual rate of $1.33 trillion, the Commerce Department reported Thursday. Economists polled by MarketWatch had expected growth of 0.2%. Spending in August was revised up to a 0.8% gain from the prior estimate of a 0.1% increase. This was the strongest gain since April. Private outlays rose 0.3% in September but there was a large 0.9% decline in public construction projects.