The Commerce
Department reported on Friday that the U.S. construction spending edged up 0.1
per cent m-o-m in September, following an upwardly revised 0.1 per cent m-o-m advance
(from -0.1 per cent m-o-m) in August.
Economists had predicted construction spending to be flat m-o-m in September.
According to
the report, spending on private construction was unchanged m-o-m in September, as a 0.2 per cent m-o-m increase
in residential spending was offset by a
0.1 per cent m-o-m slip in non-residential spending.
Meanwhile, the public
construction outlays jumped 0.5 per cent m-o-m, underpinned
by a 2.3 per cent m-o-m surge in residential
construction spending
and a 0.4 per cent m-o-m gain in non-residential construction spending.
On a y-o-y
basis, construction spending climbed 4.6 per cent in September.