US construction spending for April
- construction spending -2.9% vs. -7.0% estimate
- private construction fell -3% in April
- private residential construction fell -4.5%
- private nonresidential construction fell -1.3%
- public construction spending fell -2.5% in April
- government construction spending was 25.4% of total in April
- the prior month was revised to unchanged from +0.9%
Overall the data is better than expectations, but some of the gain was tempered by the revision to unchanged from +0.9%. Still not as bad as thought.
