Financial News: U.S. Construction Spending Unexpectedly Dips 0.3% In July

U.S. Construction Spending Unexpectedly Dips 0.3% In July

09/03/2024 - 11:05:00 (RTTNews)

(RTTNews) - The Commerce Department released a repot on Tuesday unexpectedly showing a decrease by U.S. construction spending in the month of July.

The report said construction spending fell by 0.3 percent to an annual rate of $2.163 trillion in July, while revised data showed construction spending was nearly unchanged at an annual rate of $2.169 trillion in June.

Economists had expected construction spending to come in unchanged compared to the 0.3 percent decrease originally reported for the previous month.

The unexpected dip by total construction spending came as spending on private construction slid by 0.4 percent to an annual rate of $1.679 trillion.

Spending on residential construction fell by 0.4 percent to an annual rate of $941.6 billion, while spending on non-residential construction declined by 0.4 percent to an annual rate of $737.2 billion.

Meanwhile, the Commerce Department said spending on public construction inched up by 0.1 percent to an annual rate of $484.0 billion.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Brazil Inflation Eases To 4.24% (28 min(s), 46 sec(s) ago)
(RTTNews) - Brazil's consumer price inflation eased for the first time in four months in Augus ...Full Story»

Hungary Inflation Eases To 3.4%, Lowest In 42 Months (01 hr(s), 34 min(s), 46 sec(s) ago)
(RTTNews) - Hungary's consumer price inflation slowed in August to the lowest level in three-a ...Full Story»

Austria Production Index Declines At Slower Pace (02 hr(s), 02 min(s), 46 sec(s) ago)
(RTTNews) - Austria's production index posted a slower decline in July, figures from Statistic ...Full Story»

Czech Inflation Steady At 2.2% (02 hr(s), 49 min(s), 46 sec(s) ago)
(RTTNews) - The Czech Republic's consumer price inflation held steady in August after rising i ...Full Story»

Norway Inflation Eases Unexpectedly, Producer Prices Rise Further (03 hr(s), 46 min(s), 46 sec(s) ago)
(RTTNews) - Norway's consumer price inflation eased somewhat in August, while producer prices ...Full Story»

Spain Industrial Output Falls For First Time In 4 Months (04 hr(s), 19 min(s), 46 sec(s) ago)
(RTTNews) - Spain's industrial production declined for the first time in four months in July d ...Full Story»

German Inflation Slows As Estimated (04 hr(s), 56 min(s), 46 sec(s) ago)
(RTTNews) - Germany's consumer price inflation weakened, as initially estimated, in August due ...Full Story»

Italy Industrial Production Falls 0.9%, Exceeds Forecast (05 hr(s), 21 min(s), 46 sec(s) ago)
(RTTNews) - Italy's industrial production declined more-than-expected in July after rising in ...Full Story»