Construction spending in the United States rose by 0.70 percent in August to a seasonally adjusted annual rate of $1.09 trillion, the fastest pace since 2008, the Commerce Department reported Thursday.

Economists had forecast a rise of 0.60 percent.

Construction spending increased 13.7 percent during the past 12 months.

Spending on public construction rose 0.50 percent in August, while private sector residential projects posted a 1.5 percent increase.

The latest figures point to a robust recovery in construction and add to mounting evidence of the expansion in the U.S. economy, which grew at an annualized rate of 3.9 percent in the second quarter. EFE