The News
Capital Coahuila
Capital Querétaro
Capital Edo. de Méx.
Capital México
Capital Mujer
Reporte Índigo
Estadio Deportes
The News
Efekto
Green TV
Revista Cambio
Digital
Prensa
Radio
TV

US construction spending drops 0.9% as housing takes a hit

By The News · 04 of May 2019 09:37:21
AP Photo,, No available, FILE - In this April 9, 2019, file photo a worker walks along the a structure being built for the NFL Draft in Nashville, Tenn. On Wednesday, May 1, the Commerce Department reports on U.S. construction spending in March. (AP Photo/Mark Humphrey, File)

WASHINGTON (AP) — U.S. construction spending dropped in March or the first time in four months, and spending on U.S. home construction fell to the lowest level in more than two years.

The Commerce Department says construction spending — including housing, nonresidential and government building projects — fell 0.9% to a seasonally adjusted annual rate of $1.28 trillion after rising 0.7% in both January and February.

Residential construction spending skidded 1.8% to a seasonally adjusted annual rate of $500.9 billion, lowest since December 2016.

Public construction dropped 1.3% to $320.7 billion in March.

Home building has wobbled but is expected to rebound as the Federal Reserve backs off on plans to hike interest rates this year.