Construction spending rose 0.3% in March, boosted by spending on nonresidential buildings and on public works, the Commerce Department reported Monday. Economists were expecting a 1.5% decline. Spending in January and February was revised higher, which, all things equal, should lead to an upward revision to gross domestic product. Earlier reports had investments in non-residential structures falling at a record 44% annual pace in the first quarter. In March, spending on residential projects fell 4.2%. Spending on nonresidential construction projects rose 2.7% in March, while spending on public projects rose 1.1%.

 

 

 

 

 

 

 

Source: MarketWatch

Tags: Construction, spending

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