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VOL. 35 | NO. 39 | Friday, September 30, 2011




Construction spending up but pace is still weak

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WASHINGTON (AP) — U.S. builders increased spending on homes, office buildings and other projects in August after a big decline in July. The gain still left the construction industry far below levels considered healthy.

The Commerce Department says construction spending rose 1.4 percent in August after a 1.4 percent decline in July, which had been the biggest setback in six months. The increase pushed construction activity to a seasonally adjusted annual rate of $799.1 billion. That's 4.8 percent above an 11-year low hit in March. But it's barely more than half the $1.5 trillion pace considered healthy.

Analysts say it could be four years before construction returns to healthy levels. A dismal outlook for housing and a weak economy have forced governments to cut back on building plans.

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TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0