Partly reflecting a sharp pullback in spending on residential construction, the Commerce Department released a report Friday morning showing an unexpected decrease in U.S. construction spending in the month of March.
The report said construction spending fell by 0.6 percent to annual rate of $966.6 billion in March from the revised February estimate of $972.9 billion.
The decrease came as a surprise to economists, who had been expecting construction spending to increase by about 0.5 percent.
The material has been provided by InstaForex Company – www.instaforex.com