A report released by the Commerce Department on Tuesday showed construction spending in the U.S. increased by more than expected in the month of October.
The Commerce Department said construction spending jumped by 1.3 percent to an annual rate of $1.439 trillion in October after falling by 0.5 percent to a revised rate of $1.420 trillion in September.
Economists had expected construction spending to climb by 0.8 percent compared to the 0.3 percent uptick originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.