FOREX TradingCharts.com

Financial News: U.S. Construction Spending Unexpectedly Pulls Back Modestl

U.S. Construction Spending Unexpectedly Pulls Back Modestly In January

03/01/2024 - 13:06:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Friday unexpectedly showed a modest decrease in U.S. construction spending in the month of January.

The Commerce Department said construction spending slipped by 0.2 percent to an annual rate of $2.102 trillion in January after jumping by 1.1 percent to a revised rate of $2.106 trillion in December.

The pullback surprised economists, who had expected construction spending to rise by 0.2 percent compared to the 0.9 percent increase originally reported for the previous month.

The unexpected dip reflected a notable decrease in spending on public construction, which slid by 0.9 percent to an annual rate of $479.0 billion.

Spending on highway construction plunged by 2.1 percent to a rate of $150.1 billion, while spending on educational construction fell by 0.7 percent to a rate of $101.5 billion.

Meanwhile, the Commerce Department said spending on private construction inched up by 0.1 percent to an annual rate of $1.623 trillion.

Spending on residential construction crept up by 0.2 percent to a rate of $900.8 billion, more than offsetting a 0.1 percent dip in spending on non-residential construction to a rate of $722.6 billion.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Trade Surplus Shrinks In March (12 min(s), 26 sec(s) ago)
(RTTNews) - Norway's foreign trade surplus decreased in March from a year ago amid a sharp fal ...Full Story»

China Keeps Medium-Term Lending Facility Rate Unchanged (01 hr(s), 01 min(s), 26 sec(s) ago)
(RTTNews) - China left its medium-term lending facility rate unchanged on Monday as the central ba ...Full Story»

India Wholesale Price Inflation Rises To 0.53% (01 hr(s), 13 min(s), 26 sec(s) ago)
(RTTNews) - India's wholesale prices increased for the fifth straight month in March, and at t ...Full Story»

Finland Inflation Slows To 2.2%, Lowest In 31 Months (02 hr(s), 02 min(s), 26 sec(s) ago)
(RTTNews) - Finland's consumer price inflation moderated further in March to the lowest level ...Full Story»

European Economic News Preview: Eurozone Industrial Output Data Due (03 hr(s), 06 min(s), 26 sec(s) ago)
(RTTNews) - Industrial production from the euro area is due on Monday, headlining a very light day ...Full Story»

Japan Core Machine Orders Surge 7.7% In February (13 min(s), 34 sec(s) ago)
(RTTNews) - The value of core machine orders in Japan jumped by a seasonally adjusted 7.7 percent ...Full Story»

New Zealand Services Index Slumps In March - BusinessNZ (12 min(s), 34 sec(s) ago)
(RTTNews) - The services sector in New Zealand fell into contraction territory in March, the lates ...Full Story»

Japan Core Machinery Order Data Due On Monday (17 min(s), 34 sec(s) ago)
(RTTNews) - Japan will on Monday release February figures for core machinery orders, highlighting ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Trade Surplus Shrinks In March

04/15/2024 - 04:31 AM (RTTNews)
(RTTNews) - Norway's foreign trade surplus decreased in March from a year ago amid a sharp fal ...Full Story>>

China Keeps Medium-Term Lending Facility Rate Unchanged

04/15/2024 - 03:42 AM (RTTNews)
(RTTNews) - China left its medium-term lending facility rate unchanged on Monday as the central ba ...Full Story>>

India Wholesale Price Inflation Rises To 0.53%

04/15/2024 - 03:30 AM (RTTNews)
(RTTNews) - India's wholesale prices increased for the fifth straight month in March, and at t ...Full Story>>

Finland Inflation Slows To 2.2%, Lowest In 31 Months

04/15/2024 - 02:41 AM (RTTNews)
(RTTNews) - Finland's consumer price inflation moderated further in March to the lowest level ...Full Story>>

European Economic News Preview: Eurozone Industrial Output Data Due

04/15/2024 - 01:37 AM (RTTNews)
(RTTNews) - Industrial production from the euro area is due on Monday, headlining a very light day ...Full Story>>

Do not sell my personal information

Copyright © 2024. 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.