U.S. construction spending grew by 0.5 percent in September, a Commerce Department report showed on Tuesday, matching expectations and reaching a record high as private residential spending jumped.
Construction spending mounted in September to a seasonally adjusted annual rate of $1.120 trillion from a revised $1.115 trillion in August. Private construction spending advanced 0.6 percent to a $871.5 billion annual rate, assisted by a 1 percent jump in outlays on private residential construction, which mounted to $624.3 billion
