U.S. Construction Spending Unexpectedly Edges Slightly Lower In March
(RTTNews) - Reflecting a decrease in spending on private construction, the Commerce Department released a report on Wednesday showing U.S. construction spending unexpectedly edged slightly lower in the month of March.
The report said construction spending dipped by 0.2 percent to an annual rate of $2.084 trillion in March, while economists had expected construction spending to rise by 0.3 percent.
Meanwhile, revised data showed construction spending came in unchanged in February compared to the previously reported 0.3 percent drop.
The Commerce Department said spending on private construction spending fell by 0.5 percent to an annual rate of $1.601 trillion in March.
Spending on residential construction slid by 0.7 percent to an annual rate of $884.3 billion, while spending on non-residential construction slipped by 0.2 percent to an annual rate of $716.5 billion.
Meanwhile, the report said spending on public construction climbed by 0.8 percent to an annual rate of $483.1 billion in March.
Spending on educational construction jumped by 1.0 percent to an annual rate of $102.7 billion, while spending on highway construction advanced by 0.9 percent to an annual rate of $149.0 billion.
U.S. Housing Starts Tumble 3.1% In October, More Than Expected
U.S. Housing Starts Tumble More Than Expected In October
U.S. Homebuilder Confidence Improves Much More Than Expected In November
U.S. Business Inventories Inch Up Slightly Less Than Expected In September
U.S. Industrial Production Falls 0.3% In October As Boeing Strike, Hurricanes Continue To Weigh
New York Manufacturing Index Soars To Nearly Three-Year High In November
U.S. Import Prices Unexpectedly Rise 0.3% In October
