August Construction Spending Rises 0.6%


That offset a 3.8 percent drop in spending on federal projects, which fell to their lowest level since June 2008. The construction report had been scheduled to be released on Oct. 1 but was delayed because of the 16-day partial government shutdown. Total construction is 7.1 percent higher than a year ago with residential activity up 18.7 percent, nonresidential up 4.3 percent and government construction activity down 1.8 percent from a year ago. The housing rebound that began in 2012 has helped drive economic growth and create jobs in construction. But mortgage rates are nearly a full percentage point higher than the spring, an increase that began in May when the Federal Reserve first signaled that it might slow its $85 billion in monthly bond purchases. However, at its Sept.

UK Construction Sector Activity Strongest in Nine Years – Survey

About 30 armed Maoists, including women, raided the site of a contractor, undertaking road construction from Titijhola to Jugsaipatna under PMGSY, and took the staff out of the camp before setting afire two JCBs, two tractors and a motorbike last Sunday. The contractor was not present at the time of incident in the camp located in an inaccessible area, police said. The Maoists then ordered the villagers to resist road construction work on the plea that it would facilitate bauxite mining from Khandualgiri and thereby take away their right over the forest. The rebels also claimed that the labourers engaged for road construction were paid low wages. After being informed about the incident, a police team reached the spot yesterday and recovered posters purportedly left by the Maoists at Minagpadar and Jugsaipatna. Investigation into the incident was in progress and combing operation launched in the area, Dehuri said.

The increase is in line with other indicators of construction activity and shows the sector is starting to rectify the imbalance between the supply of residential homes in the U.K. and demand, which has been driving up house prices. “While it’s certainly good news that construction–and especially house building–is finally on the rise right across the U.K., we are certainly not out of the woods yet,” said Simon Rubinsohn, RICS’s chief economist. “Critically, we’re still way behind in terms of building enough homes to meet the nation’s growing housing need and overall construction projects are at a historical low.” The increase in construction activity, a key sector of the economy, should help ensure economic growth continues to gather pace in the second half of the year. The preliminary estimate of U.K.

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