Ekonomické zprávy

U.S. construction spending rises more than forecast in March

The Commerce Department announced on Monday that the U.S. construction spending jumped 0.3 percent m-o-m in March, rebounding after a downwardly revised 0.3 percent m-o-m decline (from -0.1 percent m-o-m) in February. 

Economists had foreseen construction spending to increase 0.1 percent m-o-m in March.

According to the report, spending on private construction increased 0.3 percent m-o-m in March, as a 1.0 percent m-o-m climb in nonresidential spending was partly offset by a 0.2 percent m-o-m drop in residential spending.

Meanwhile, the public construction outlays increased 0.2 percent m-o-m, underpinned by a 0.8 percent m-o-m advance in residential spending and a 0.2 percent m-o-m gain in nonresidential spending.

On a y-o-y basis, construction spending soared 3.8 percent in March.

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