US Construction Spending Rises 0.4% in April as Single-Family Outlays Jump 1.4%
Updated
Updated · Reuters · Jun 1
US Construction Spending Rises 0.4% in April as Single-Family Outlays Jump 1.4%
9 articles · Updated · Reuters · Jun 1
April U.S. construction spending rose 0.4%, topping the 0.2% forecast after March was revised down to a 0.2% gain.
Residential investment increased 0.8%, with new single-family homebuilding up 1.4%, driving the stronger-than-expected overall reading.
Mortgage rates averaged 6.53% last week — up from 5.98% at February-end — and are weighing on housing demand as builders also face tariff, land and labor pressures.
Private nonresidential construction fell 0.2%, extending a nine-quarter contraction, while public construction rose 0.4% and federal outlays jumped 4.8%.
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