empty
 
 

2021.11.0114:15:00UTC+00U.S. Construction Spending Unexpectedly Drops 0.5% In September

Construction spending in the U.S. unexpectedly decreased in the month of September, according to a report released by the Commerce Department on Monday.

The report said construction spending fell by 0.5 percent to an annual rate of $1.574 trillion in September after inching up by 0.1 percent to a revised rate of $1.582 trillion in August.

The drop in construction spending came as a surprise to economists, who had expected spending to increase by 0.4 percent.

The unexpected decline in construction spending came as spending on private construction slid by 0.5 percent to an annual rate of $1.230 trillion.

Spending on residential construction spending fell by 0.4 percent to a rate of $773.5 billion, while spending on non-residential construction dropped by 0.6 percent to a rate of $456.4 billion.

The report showed spending on public construction also slumped by 0.7 percent to an annual rate of $343.7 billion.

Spending on highway construction dropped by 0.7 percent to a rate of $99.8 billion, offsetting a 0.9 percent increase in educational construction to a rate of $80.7 billion.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback