- U.S. construction spending increases less than anticipated in April
Market news
1 June 2021
U.S. construction spending increases less than anticipated in April
The
Commerce Department announced on Tuesday that construction spending rose 0.2
percent m-o-m in April after a revised 1.0 percent m-o-m climb in March
(originally a 0.2 percent m-o-m increase).
Economists
had forecast construction spending growing 0.5 percent m-o-m in April.
According
to the report, spending on private construction increased 0.4 percent m-o-m,
while investment in public construction fell 0.6 percent m-o-m.
On a
y-o-y basis, construction spending surged 9.8 percent in April.
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