U.S. construction spending slides in August

Investment in U.S. construction fell by 0.7 percent, according to the U.S. Commerce Department, the largest drop since February 2021. August’s decline compounded the 0.6 decrease seen in July. In a Reuters poll, economists forecast that construction spending would edge down by 0.3 percent. Year-over-year, spending was up by 8.5 percent.

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