Construction spending in the United States has risen more than expected in February, as the drop in mortgage rates has boosted the construction of single -family homes, although the increase in economic uncertainty due to import tariffs can slow down the pace.
The Department of Commerce reported on Tuesday that construction spending increased 0.7% in February, after a drop reviewed down 0.5% in January.
Economists consulted by Reuters predicted that construction spending would rise 0.3% after a 0.2% decline reported earlier in January.
In February, construction spending advanced 2.9% at the annual base. Expenses with private construction projects rose 0.9%. Investment in residential construction increased by 1.3%, with spending on new single -family projects recovering at 1.0%.
Hypothecary rates have decreased by the high levels recorded at the beginning of the year. However, rates on imported products remain a restriction for builders.
US President Donald Trump ordered a new commercial investigation that could impose more imported sawn wood tariffs, adding to existing taxes on Canadian long fiber wood, used in construction, furniture and paper.
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Trump increased rates on Chinese products for 20% and imposed rates on steel and aluminum.
Spending on multifamily housing units remained unchanged in February. Investment in non -residential private structures such as offices and factories increased by 0.4%.
