The Commerce Department announced on Monday that construction spending increased 0.3 percent m-o-m in September after a revised 0.8 percent m-o-m advance in August (originally a 1.4 percent m-o-m climb). This marked the smallest monthly gain in construction spending in four months.

Economists had forecast construction spending increasing 0.9 percent m-o-m in September.

According to the report, spending on private construction rose 0.9 percent m-o-m, while investment in public construction fell 1.7 percent m-o-m.