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  HOME PAGE 20/04/2024 22:30 
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US Construction Spending Falls 0.3% In February

02.04.2024 17:12

Figure up 10.7% on annual basis, says Commerce Department.

US construction spending fell 0.3% to $2,091.5 billion in February, Commerce Department figures showed Monday.

Construction spending, one of the major indicators of well-being in the construction sector, was expected to show a monthly increase of 0.7%, according to market estimates.

The figure for January stood at a 0.2% decline at $2,096.9 billion.

Annually, the reading in February was 10.7% above the figure from the same month in 2023 when it stood at $1,889.6 billion, said the agency.

"During the first two months of this year, construction spending amounted to $298.1 billion, 11.9 percent above the $266.5 billion for the same period in 2023," it added. -

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