U.S. construction spending surprises

U.S. construction spending unexpectedly posted its biggest increase in eight months in April, advancing for a second straight month as the private sector put money into both residential and nonresidential projects, according to a government report on Monday.

The Commerce Department said spending on construction projects rose 0.8 percent in April from March, the biggest increase since August. Spending climbed a revised 0.4 percent in March, previously reported as a 0.3 percent rise.

Analysts polled by Reuters were expecting a 1.3 percent decline in overall construction spending in April.

Read Full Article from Reuters

- Posted: 2009-06-01 10:50:23

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