US construction spending rises

Spending on U.S. construction projects rose in October at the fastest pace in more than four years, pushed higher by a surge in public buildings, the government reported Monday, suggesting the federal government shutdown did not slow public projects. The Commerce Department said construction spending increased 0.8 percent in October to an annual rate of $908.4 billion. Spending fell 0.3 percent in September. Data from both October and September was released Monday, after reporting was delayed due to the partial government shutdown. The October gain was the biggest since May 2009. Spending has increased 5.3 percent in the 12 months ending in October. A 3.9 percent jump in public buildings drove the October increase, while construction of private homes and commercial projects fell 0.5 percent.