By Ovunc Kutlu
ISTANBUL (AA) - US construction spending fell 0.1% to $2,099 billion in April, the Commerce Department's figures showed Monday.
Construction spending, one of the major indicators of well-being in the construction sector, was expected to show a monthly increase of 0.2%, according to market estimates.
The figure for March stood at $2,101.5 billion for a monthly decline of 0.2%.
Annually, however, the reading in April was 10% above the same month in 2023 when it stood at $1,907.8 billion.
"During the first four months of this year, construction spending amounted to $635.5 billion, 10.9 percent above the $573.0 billion for the same period in 2023," the department said.