Construction spending climbed to a record high in August, helped by a renewed boom in housing. Even bigger gains are expected in coming months, spurred by the massive rebuilding required in the wake of hurricanes Katrina and Rita.
The Commerce Department said Monday that total August spending rose by 0.4 percent, the biggest increase in three months. It pushed building activity to an all-time high of $1.11 trillion at a seasonally adjusted annual rate.
