Construction Spending Unchanged in August

Construction spending held steady in August, the Commerce Department said Wednesday.

The figure followed a revised 1.4% decline the prior month, Commerce said.

Economists had forecast a 0.5% decline, Bloomberg reported.

Private residential construction rose 0.3% in the first increase since March 2007. Private non-residential construction projects fell 0.8%.

Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.