U.S. Construction Spending Climbs More Than Expected In March

U.S. construction spending rose more than expected in March, as an increase in private construction spending more than offset a decline in public construction. The report from the Commerce Department is a constructive read for the construction and housing-linked parts of the economy, though the overall market impact should be limited. The data point is modestly supportive of near-term growth expectations.

Analysis

U.S. construction spending rose more than expected in March, as an increase in private construction spending more than offset a decline in public construction. The report from the Commerce Department is a constructive read for the construction and housing-linked parts of the economy, though the overall market impact should be limited. The data point is modestly supportive of near-term growth expectations.