- U.S. construction spending raises slightly more than forecast in July
Market news
1 September 2021
U.S. construction spending raises slightly more than forecast in July
The
Commerce Department announced on Wednesday that construction spending increased
0.3 percent m-o-m in July after a revised flat reading in June (originally a
0.1 percent m-o-m uptick).
Economists
had forecast construction spending growing 0.2 percent m-o-m in July.
According
to the report, spending on private construction rose 0.3 percent m-o-m, while
investment in public construction climbed 0.7 percent m-o-m.
On a
y-o-y basis, construction spending surged 9.0 percent in July.
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