Nonresidential spending still rising; hotel construction booming

11/16/2006 | Bloomberg Businessweek

Spending on nonresidential construction continued to rise in September, despite the falling home-construction market. Spending on hotel and resort construction showed the highest gains, with the first nine months seeing a 48% gain. "In the first nine months of 2006 combined, overall construction spending was up 6.6 percent from the same period of 2005," said Ken Simonson, Associated General Contractors of America's top economist.

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