CONSTRUCTION SPENDING RISES FOR SEVENTH STRAIGHT MONTH TO 37-MONTH HIGH IN OCTOBER WITH GAINS IN RESIDENTIAL, NONRESIDENTIAL AND PUBLIC SEGMENTS

WASHINGTON, D.C. – December 3, 2012 – (RealEstateRama) — All major segments of construction spending increased in October, bringing total spending to a 37-month high at an annualized rate of $872 billion, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials warned, however, that the fiscal cliff imperils future improvement in both public and private spending.