Tags: Coronavirus | construction | spending | falls | economy | virus

Construction Spending Falls Less Than Expected

Construction Spending Falls Less Than Expected

Monday, 01 June 2020 10:31 AM

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. 

© 2020 Thomson/Reuters. All rights reserved.


   
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Economy
U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.
construction, spending, falls, economy, virus
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2020-31-01
Monday, 01 June 2020 10:31 AM
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