- U.S. construction spending increases more than forecast in September
Market news
1 November 2019
U.S. construction spending increases more than forecast in September
The Commerce
Department announced on Friday that construction spending rose 0.5 percent
m-o-m in September after a revised 0.3 percent m-o-m decline in August (originally
a 0.1 percent m-o-m gain).
Economists had
forecast construction spending increasing 0.2 percent m-o-m in September.
According to
the report, investment in public construction surged 1.5 percent m-o-m, while
spending on private construction increased 0.2 percent m-o-m.
On a y-o-y
basis, construction spending dropped 2.0 percent in September.
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