- U.S. construction spending rises less than expected in July
Market news
3 September 2019
U.S. construction spending rises less than expected in July
The Commerce
Department said on Tuesday that construction spending edged up 0.1 percent
m-o-m in July after a revised 0.7 percent m-o-m drop in June (originally a 1.3
percent m-o-m decline).
Economists had
forecast construction spending increasing 0.3 percent m-o-m in July.
According to
the report, investment in public construction increased 0.4 percent m-o-m,
while spending on private construction fell 0.1 percent m-o-m.
On a y-o-y basis,
construction spending declined 2.7 percent in July.
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