By Xavier FontdegloriaConstruction spending in the U.S. rose less than expected in April as an increase in private construction was partly offset by declines in public spending. Construction spending increased 0.2% in April on-month, easing from the 0.3% rise registered in March, according to data from the Commerce Department released Wednesday. Economists polled by The Wall Street Journal expected a 0.5% increase in April. Spending on private construction rose 0.5%, with spending on new, single family homes rising by 0.5%, and investment in multi-family housing projects edging up by 0.8%. Private spending on nonresidential construction fell 0.2% on month, while total public construction spending decreased 0.7% on month, according to the report.

Source: Wall Street Journal June 01, 2022 20:55 UTC