Economic Report
Spending up 3.8% over past year, powered by non-residential sector
Construction spending has been an engine of growth for the economy. (Photo by William West/ AFP via Getty Images)
Outlays for construction projects rose 0.3% in March at a seasonally adjusted annual rate of $1.83 trillion, the Commerce Department reported Monday.
Economists polled by The Wall Street Journal had expected a flat reading.
Over the past year, construction spending has been an engine of growth for the economy, rising 3.8%.
Spending…
