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Mon Dec 2, 2019, 03:59 PM

Construction spending falls in October, missing forecasts

Source: MarketWatch

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Construction spending falls in October, missing forecasts

Published: Dec 2, 2019 11:09 a.m. ET

By VICTOR REKLAITIS
MONEY & POLITICS REPORTER

Outlays for U.S. construction projects fell 0.8% in October at a seasonally adjusted annual rate of $1.29 trillion, the Commerce Department reported Monday. (1) Economists polled by MarketWatch had expected growth of 0.4%. Spending on private construction declined 1% in October, with residential construction down by 0.9%. Outlays on public construction projects fell 0.2% in the month. Overall revisions were positive. While September spending was revised lower to a 0.3% decline from 0.5% growth, spending in August was revised up sharply to a 1.1% rise from a 0.3% fall.

(1) https://www.census.gov/construction/c30/pdf/release.pdf

Read more: https://www.marketwatch.com/story/construction-spending-falls-in-october-missing-forecasts-2019-12-02

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