| U.S. construction spending edges up 0.1 percent in March |
| Last Updated(Beijing Time):2012-05-02 06:47 |
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The U.S. construction spending rose slightly in March after two straight months of declines, the Department of Commerce reported Tuesday.
Construction spending was estimated at a seasonally adjusted annual rate of 808.1 billion U.S. dollars in March, 0.1 percent above the revised 807.3 billion dollars in February, the department said in a report.
The March figure was 6 percent above the level of one year earlier.
In March, spending on private construction was at a seasonally adjusted annual rate of 531.9 billion dollars, 0.7 percent above the revised February estimate.
The estimated seasonally adjusted annual rate of public construction spending was 276.2 billion dollars in March, 1.1 percent below the revised February figure.
Many economists believe that U.S. housing market still has a long way to go before its full recovery. |
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