Au­gust Con­struc­tion Spend­ing Rises 0.5%

The Bond Buyer - - Market News - — Gary E. Siegel

Con­struc­tion spend­ing was up 0.5% in Au­gust, with a 0.4% in­crease in pri­vate con­struc­tion and a larger 0.7% in­crease in pub­lic con­struc­tion, data re­leased by the Com­merce De­part­ment Mon­day morn­ing showed.

An­a­lysts had ex­pected con­struc­tion spend­ing to rise 0.4% af­ter a neg­a­tive 0.6% read­ing for July. With the lat­est data, July con­struc­tion was re­vised down to a 1.2% de­crease, while June spend­ing was re­vised up slightly to a more mod­er­ate 0.8% de­crease from the 1.4% de­cline pre­vi­ously re­ported.

Pri­vate res­i­den­tial con­struc­tion spend­ing rose 0.4% in the month, with new home build­ing ris­ing 0.4% based on an MNI cal­cu­la­tion. Sin­gle-fam­ily build­ing rose 0.3%, while multi-fam­ily build­ing saw a larger rise of 0.9% from the previous month. Res­i­den­tial con­struc­tion ex­clud­ing new homes, which cap­tures re­mod­el­ing was up 0.5% and up 15.8% year-over-year.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.