Construction spending in the USA fell contrary to expectations in September

Construction spending in the USA fell 0.5 percent month-on-month in September, contrary to market expectations.

The U.S. Department of Commerce released construction spending data for September.

Accordingly, construction expenditures in the country decreased by 0.5 percent in September compared to the previous month and became 1.57 trillion dollars.

Contrary to market expectations, construction expenditures, which declined, were expected to increase by 0.4 percent in this period. Construction spending increased by 0.1 percent in August.

In the said period, private sector construction projects decreased by 0.5 percent and public construction expenditures decreased by 0.7 percent.

Construction expenditures increased by 7.8 percent on an annual basis.