CONSTRUCTION SPENDING INCREASES FOR THIRD STRAIGHT MONTH IN OCTOBER; HOMEBUILDING, PRIVATE NONRESIDENTIAL SEGMENTS RISE, PUBLIC SIDE SHRINKS

WASHINGTON, D.C. – December 1, 2011 – (RealEstateRama) — Construction spending increased for the third straight month in October as private activity strengthened while public spending shrank, the Associated General Contractors of America reported today in an analysis of new Census Bureau data. Association officials cautioned that further declines in public sector activity may soon swamp gains in homebuilding and private nonresidential investment.