US construction spending falls 0.1% in April

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.