- U.S. construction spending increases less than expected in August
Market news
1 October 2019
U.S. construction spending increases less than expected in August
The Commerce
Department said on Tuesday that construction spending edged up 0.1 percent
m-o-m in August after a revised flat m-o-m performance in July (originally a 0.1
percent m-o-m gain).
Economists had
forecast construction spending increasing 0.4 percent m-o-m in August.
According to
the report, investment in public construction rose 0.4 percent m-o-m, while
spending on private construction was unchanged m-o-m.
On a y-o-y
basis, construction spending dropped 1.9 percent in August.
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