US Construction Spending Rises Less Than Expected in March

Construction continues on a large multi-unit housing development in San Diego, on Sept. 20, 2021. Mike Blake/Reuters

WASHINGTON—U.S. construction spending barely rose in March as a moderate increase in outlays on private projects was partially offset by a further decline in public spending.

The Commerce Department said on Monday that construction spending edged up 0.1 percent after increasing 0.5 percent in February. Economists polled by Reuters had forecast construction spending would accelerate 0.7 percent. Construction spending increased 11.7 percent on a year-on-year basis in March.