U.S. Construction Spending Falls 1.1% in March

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According to a report from the U.S. Commerce Department, construction spending in the United Sates declined 1.1% month-over-month in March.

Nevertheless, the move was expected by economists, who had projected a decline of 0.7% following February's upwardly revised 0.4% increase.

Prior to revisions, construction spending had fallen 0.3% month-over-month.

The report also noted 1.7% pullback in private construction and a 0.6% rise in public building. In February, both measures came in at +0.3% and +0.4% respectively.

Over the last twelve months, construction spending has declined 3.4%.

By Erik Kevin Franco and edited by Nancy Girgis
©CEP News Ltd. 2008

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U.S. Construction Spending Falls 1.1% in March

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