FOREX TradingCharts.com

Financial News: U.S. Construction Spending Jumps Much More Than Expected

U.S. Construction Spending Jumps Much More Than Expected In January

03/02/2020 - 11:29:00 (RTTNews)

(RTTNews) - Construction spending in the U.S. jumped by much more than expected in the month of January, according to a report released by the Commerce Department on Monday.

The Commerce Department said construction spending surged up by 1.8 percent to an annual rate of $1.369 trillion in January after inching up by 0.2 percent to a revised rate of $1.346 trillion in December.

Economists had expected construction spending to climb by 0.7 percent compared to the 0.2 percent dip originally reported for the previous month.

The bigger than expected spike in construction spending reflected sharp increases in both private and public construction spending.

Spending on private construction shot up by 1.5 percent to an annual rate of $1.023 trillion, as spending on residential construction soared by 2.1 percent and spending on non-residential construction increased by 0.8 percent.

The report said spending on public construction also jumped by 2.6 percent to an annual rate of $346.5 billion, with spending on highway construction skyrocketing by 5.4 percent.

The Commerce Department said total construction spending in January was up by 6.8 percent compared to the same month a year ago.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Dutch Export Growth Slows For Second Month (14 min(s), 33 sec(s) ago)
(RTTNews) - The Netherlands' goods exports grew at a slower pace for a second consecutive mont ...Full Story»

France Industrial Output Rises More Than Expected (01 hr(s), 24 min(s), 33 sec(s) ago)
(RTTNews) - French industrial production grew more than expected in February, data from the statis ...Full Story»

France Industrial Output Rises At Slower Pace (01 hr(s), 34 min(s), 33 sec(s) ago)
(RTTNews) - French industrial production grew more than expected in February, data from the statis ...Full Story»

Eurogroup Agrees Rescue Package To Mitigate Covid-19 Downturn (01 hr(s), 40 min(s), 33 sec(s) ago)
(RTTNews) - Eurozone finance ministers agreed an emergency plan to mitigate the downturn caused by ...Full Story»

China's Inflation Eases In March; PPI Falls For Second Month (05 hr(s), 08 min(s), 33 sec(s) ago)
(RTTNews) - China's consumer price inflation slowed more-than-expected to a five-month low in ...Full Story»

China Inflation Slows To 4.3% In March (17 min(s), 27 sec(s) ago)
(RTTNews) - Consumer prices in China were up just 4.3 percent on year in March, the National Burea ...Full Story»

Japan Overall Bank Lending Rises 2.0% In March (47 min(s), 27 sec(s) ago)
(RTTNews) - Overall bank lending in Japan was up 2.0 percent on year in March, the Bank of Japan s ...Full Story»

Japan Producer Prices Sink 0.9% In March (32 min(s), 27 sec(s) ago)
(RTTNews) - Producer prices in Japan were down 0.9 percent on month in March, the Bank of Japan sa ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Dutch Export Growth Slows For Second Month

04/10/2020 - 06:13 AM (RTTNews)
(RTTNews) - The Netherlands' goods exports grew at a slower pace for a second consecutive mont ...Full Story>>

France Industrial Output Rises More Than Expected

04/10/2020 - 05:03 AM (RTTNews)
(RTTNews) - French industrial production grew more than expected in February, data from the statis ...Full Story>>

France Industrial Output Rises At Slower Pace

04/10/2020 - 04:53 AM (RTTNews)
(RTTNews) - French industrial production grew more than expected in February, data from the statis ...Full Story>>

Eurogroup Agrees Rescue Package To Mitigate Covid-19 Downturn

04/10/2020 - 04:47 AM (RTTNews)
(RTTNews) - Eurozone finance ministers agreed an emergency plan to mitigate the downturn caused by ...Full Story>>

China's Inflation Eases In March; PPI Falls For Second Month

04/10/2020 - 01:19 AM (RTTNews)
(RTTNews) - China's consumer price inflation slowed more-than-expected to a five-month low in ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.