According to a report from the U.S. Department of Commerce, construction spending in the United States fell flat in August coming in at 0% month-over-month.
The consensus had forecast construction spending in August to decline by 0.5%.
The total construction figure for July was revised downward to -1.4% from -0.6%. Residential construction grew by 0.3%, an increase from than July's 3.7% drop, while non-residential construction fell 0.1%, up slightly after falling 0.2% in the previous month.
The report also noted a 0.3% pullback in private construction and a 0.8% increase in public building, which came in at -2.4% and 1.3%, respectively, in July.
By Steve Stecyk and edited by Stephen Huebl
©CEP News Ltd. 2008