The
Commerce Department reported on Wednesday that construction spending increased
0.2 percent m-o-m in October, following a revised 0.1 percent m-o-m drop (from
-0.5 percent m-o-m) in September.
Economists
had forecast construction spending to increase 0.4 percent m-o-m in October.
According
to the report, investment in public construction surged 1.8 percent m-o-m, while
spending on private construction went down 0.2 percent m-o-m.
On
a y-o-y basis, construction spending jumped 8.6 percent in October.