Construction Spending Bounces Back, But Headwinds Loom

U.S. construction spending surged in March, defying expectations, with single-family homebuilding leading the charge. However, higher mortgage rates and inflation are casting a shadow over the industry, causing a decline in residential spending for five consecutive quarters. Private nonresidential construction and public projects also saw a dip, marking the longest streak of declines on record. Despite a year-over-year increase of one point six percent, the future of construction spending hangs in the balance as mortgage rates continue to impact the market. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f9b5571461b2fdd3