U.S. construction spending unexpectedly falls in February
Reuters
Published Apr 01, 2020 10:15AM ET
WASHINGTON (Reuters) - U.S. construction spending unexpectedly fell in February and could decline further as the coronavirus pandemic wreaks havoc on the economy.
The Commerce Department said on Wednesday that construction spending decreased 1.3%. Data for January was revised higher to show construction outlays surging 2.8% instead of jumping 1.8% as previously reported. Economists polled by Reuters had forecast construction spending rising 0.5% in February.
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Written By: Reuters
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