Quantcast
Construction spending falls less than expected – Metro US

Construction spending falls less than expected

Miami-Dade County eases some of the lockdown measures put in
Miami-Dade County eases some of the lockdown measures put in place during the coronavirus disease outbreak

WASHINGTON (Reuters) – U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.

The Commerce Department said on Monday that construction spending dropped 2.9% in April. Still, the decline was the largest since October 2018. Data for March was revised down to show construction outlays unchanged instead of increasing 0.9% as previously reported.

Economists polled by Reuters had forecast construction spending declining 6.5% in April.

(The story corrects historical in paragraph two).

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

More from our Sister Sites