- U.S. construction spending unexpectedly declines in May
Market news
1 July 2020
U.S. construction spending unexpectedly declines in May
The Commerce
Department announced on Wednesday that construction spending fell 2.1 percent
m-o-m in May after a revised 3.5 percent m-o-m drop in April (originally a 2.9
percent m-o-m decrease).
Economists had forecast
construction spending increasing 1.0 percent m-o-m in May.
According to
the report, spending on private construction fell 3.3 percent m-o-m, while
investment in public construction rose 1.2 percent m-o-m.
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