Financial News: U.S. Construction Spending Inches Slightly Higher In Septe

U.S. Construction Spending Inches Slightly Higher In September

11/01/2024 - 10:37:00 (RTTNews)

(RTTNews) - Reflecting an increase in spending on public construction, the Commerce Department released a report on Friday showed an uptick by U.S. construction spending in the month of September.

The report said construction spending crept up by 0.1 percent to an annual rate of $2.149 trillion in September after inching up by 0.1 percent to a revised rate of $2.146 trillion in August.

Economists had expected construction spending to come in unchanged compared to the 0.1 percent dip originally reported for the previous month.

The uptick by construction spending came as spending on construction increased by 0.5 percent to an annual rate of $495.2 billion in September.

Spending on educational construction rose by 0.3 percent to a rate of $104.2 billion, while spending on highway construction climbed by 0.5 percent to a rate of $141.0 billion.

Meanwhile, the report said spending on private construction came in at an annual rate of $1.654 trillion in September, virtually unchanged from the revised August estimate.

While spending on residential construction crept up by 0.2 percent to a rate of $913.6 billion, spending on non-residential construction edged down by 0.1 percent to a rate of $740.0 billion.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. New Home Sales Show Significant Rebound In November (02 hr(s), 35 min(s), 20 sec(s) ago)
(RTTNews) - After reporting a sharp pullback by new home sales in the U.S. in the previous month, ...Full Story»

U.S. Consumer Confidence Unexpectedly Deteriorates In December (02 hr(s), 37 min(s), 20 sec(s) ago)
(RTTNews) - Consumer confidence in the U.S. has unexpectedly deteriorated in the month of December ...Full Story»

U.S. Durable Goods Orders Pull Back More Than Expected In November (02 hr(s), 47 min(s), 20 sec(s) ago)
(RTTNews) - New orders for U.S. manufactured durable goods slumped by much more than expected in t ...Full Story»

Lithuania Industrial Production Grows 4.1% (05 hr(s), 20 min(s), 20 sec(s) ago)
(RTTNews) - Lithuania's industrial output expanded in November, driven by strong growth in the ...Full Story»

Irish Consumer Confidence Weakens Marginally (05 hr(s), 47 min(s), 20 sec(s) ago)
(RTTNews) - Irish consumer confidence dropped slightly at the end of the year as households were w ...Full Story»

Irish Wholesale Prices Rise 2.1% In November (06 hr(s), 24 min(s), 20 sec(s) ago)
(RTTNews) - Ireland's wholesale prices increased for the first time in four months in November ...Full Story»

Poland Unemployment Rate Rises To 5.0% (06 hr(s), 39 min(s), 20 sec(s) ago)
(RTTNews) - The unemployment rate in Poland increased for the first time in four months in Novembe ...Full Story»

Italy Non-EU Trade Surplus Shrinks In November (07 hr(s), 23 min(s), 20 sec(s) ago)
(RTTNews) - Italy's non-EU trade surplus declined in November from a year ago, as imports grew ...Full Story»