Business

US construction spending up 0.8 percent in October

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WASHINGTON — US developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government projects. But spending on home construction and commercial projects both fell.

Overall construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion, the Labor Department said Monday. That’s up from September, when spending fell 0.3 percent.

The October pace was the best since May 2009 and was driven by a 3.9 percent surge in public spending. Federal spending increased 10.9 percent, suggesting the 16-day partial government shutdown had little impact on public projects.

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