US April construction spending gain largest in nearly 10 yrs

WASHINGTON, June 1 (BestGrowthStock) – U.S. construction spending
rose unexpectedly in April, recording its largest monthly
increase in nearly 10 years, according to a government report
on Tuesday.

The Commerce Department said construction spending rose 2.7
percent, the biggest advance since August 2000, to an annual
rate of $869.1 billion. March’s increase was revised up to 0.4
percent from a 0.2 percent gain.

Economists surveyed by Reuters forecast that construction
spending would be unchanged in April.

Stock Market Today
(Reporting by Lucia Mutikani; editing by Jeffrey Benkoe)

US April construction spending gain largest in nearly 10 yrs