· Construction spending reached a record level of $1.309 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America.
· There was an unexpected decline in construction spending this past May after investment in private construction projects dropped to its lowest level in nearly two and a.
· Overall construction spending was reported at a seasonally adjusted annual rate of $1.23 trillion, the same as last month’s revised figure. The flat May number follows April’s decline of 0.7 percent, which was revised from an originally reported drop of 1.7 percent.
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WASHINGTON (AP) – Spending on U.S. construction projects decreased in May, showing the first drop in six months, as spending on home building fell for a fifth straight month. The Commerce Department reported on Monday that spending fell by 0.8% in May, showing the first decline since a 1.3% drop.
WASHINGTON – Spending on U.S. construction projects fell in May, the first drop in six months, as home building fell for a fifth straight month. The Commerce Department reported Monday that spending fell 0.8% in May, the first decline since a 1.3% drop in November, to a seasonally adjusted annual rate of $1.29 trillion.
There was an unexpected decline in construction spending this past May after investment in private construction projects dropped to its lowest level in nearly two and a half years.
WASHINGTON — U.S. construction spending was flat in May with homebuilding falling again, even as buyers face climbing prices and a shortage of available properties on the market. The Commerce.
WASHINGTON – U.S. construction spending was flat in May with homebuilding falling again. Private residential construction fell 0.6 per cent in May, the first decline in that category since April.
US construction spending falls 0.8% in May, first decline in 6 months, as housing remains weak
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