Latest construction, housing data are two positives for the economy


Call it a good start for the week and month, as two indicators came in with better-than-expected readings Monday.

First, construction spending rose 0.3 percent March, the U.S. Commerce Department announced Monday, well above the 1.0 percent decline seen by economists surveyed by Bloomberg News (pdf). Also, pending homes sales rose 3.2 percent in March, the National Association of Realtors said; analysts had expected the index to remain flat in March.