Construction Spending Rises Less Than Expected
Washington, DC, June 2, 2014 -- Construction spending in the U.S. rose 0.2% in April to a seasonally adjusted annual rate of $953.5 billion, the U.S. Commerce Department reported Monday.
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Economists had expected a 0.8% increase.
In the private sector, spending rose 0.1% on residential construction, and fell 0.1% on nonresidential projects.
In the public sector, spending fell 6% for residential construction and rose 1% for nonresidential construction.