Construction spending up 0.9% in May on surge in homebuilding

U.S. construction spending dropped in March or the first time in four months, and spending on U.S. home construction fell to the lowest level in more than two years. The Commerce Department says construction spending – including housing, nonresidential and government building projects – fell 0.9% to

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%.

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WASHINGTON (AP) – Spending on U.S. construction projects fell in May, the first drop in six months, as home building fell for a fifth straight. down 0.6% while nonresidential construction fell 0.9%.

 · Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

Separately, the slowdown in housing starts and construction spending (-5.7% and -19.9% year-over-year, respectively) follows a surge in March (10% and 66.7. but consumption will slow from the heady.

The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led.

Yes, today’s headline monthly change showed a decline of 0.9%. But this is only because April’s reading was revised up to a 1.281 million annualized pace from a prior reading of 1.235 million. After the pace of housing construction falling three quarters in a row, it now looks like a rebound is underway, with Q1 2019 posting an increase of 2.4% over the Q4 2018 average.

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 · 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.

Economists polled by Reuters had forecast construction spending rising only 0.5 percent in October. Construction outlays were up 13 percent compared to October. reflecting increases in home.

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