US construction spending falls 0.2% in March
By Iain Gilbert
Date: Wednesday 01 May 2024
(Sharecast News) - US construction spending fell by 0.2% month-on-month in March, according to the Census Bureau, following a revised flat reading in February and missing market expectations for a 0.3% increase.
Private spending shrank by 0.5%, led by a 0.7% decrease in the residential segment, while public construction outlays saw a 0.8% increase compared to the previous month.
On an annualised basis, construction spending advanced by 9.6% in March.
Reporting by Iain Gilbert at Sharecast.com
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