With an increase in spending on private construction partly offset by a slump in spending on public construction, the Commerce Department released a report on Tuesday showing U.S. construction spending increased by less than expected in the month of December.
The Commerce Department said construction spending inched up by 0.2 percent to an annual rate of $1.640 trillion in December after climbing by 0.6 percent to a revised rate of $1.637 trillion in November.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.