Builders began work on more home-remodeling projects in April. But the increase barely lifted construction spending above its lowest level in more than a decade, a sign that the troubled industry remains too weak to help the economy. The Commerce Department says construction spending rose 0.4% in April. The strength came from a big percentage jump in spending on home improvement projects, which helped offset declines in single-family and multifamily construction. The overall increase followed a 0.1% rise in March and pushed construction spending to a seasonally adjusted annual rate of $765 billion. That was up just 0.5% from the 11-year low of $761 billion hit in February.
U.S. construction spending rose 0.4%
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