- U.S. construction spending unexpectedly falls in May
Market news
1 July 2019
U.S. construction spending unexpectedly falls in May
The Commerce
Department said on Monday that construction spending fell 0.8 percent m-o-m in
May after a revised 0.4 percent m-o-m gain in April (originally unchanged m-o-m).
It was the largest drop since November 2018.
Economists had
forecast construction spending increasing 0.1 percent m-o-m in May.
According to
the report, investment in public construction decreased 0.9 percent m-o-m,
while spending on private construction declined 0.7 percent m-o-m
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