March U.S. Construction Spending Inches Up 0.1%

March U.S. construction spending rose 0.1% month-over-month, which was much weaker than the 0.4% increase expected by consensus. It also comes after February was revised downward to a 1.4% drop (previously down 1.1%). Residential spending rose 0.7% in March, after falling 2.2% in February. Nonresidential spending also rose 0.7% after a 1.7% drop in February (revised from a 1.6% decline). Private spending rose 0.7% in March after falling 1.9% the previous month (was -0.8%), while public construction spending fell 1.1% in March to its lowest level in over five years after a 0.3% decrease in February. Construction spending for March stood at a seasonally adjusted annual rate of $808.1 billion, which is 6% above a 12-year low of $762.6 billion seen last March. The report was disappointing, though the upbeat ISM manufacturing sentiment data may help offset the news.

The posts on this blog are opinions, not advice.
Please read our disclaimers for Ratings Services, Indices, Equity Research, Securities Evaluations and Risk Solutions.

Post a Comment

Thank you for submitting a comment. We ask you to use the comment guidelines to promote thoughtful and productive discussions. Your comment will be approved before it will be posted. Thank you for your patience.

Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  • Categories

  • Recent Comments

  • Tags