Construction spending flatlines in May as homebuilding declines

Construction spending flat-lined in May, rising a statistically insignificant 0.1%, far below analyst expectations, according to data from the U.S. Census Bureau. Outlays increased 0.1% after an 0.8%.

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.

Us Construction Spending Was Unchanged In April As Homebuilding Fell and related news – Financial New Index – Latest Business-Market news from around the web at one place

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.

Construction spending flatlines in May as homebuilding declines 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 Department reported on Monday no increase in construction spending in May, which follows a report two weeks ago showing that housing starts fell for the third straight month.

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Spending on U.S. construction. as home building fell for a fifth straight month. The Commerce Department reported Monday.

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Private Residential Construction Spending Declines in May By Na Zhao on July 5, 2017 (). NAHB analysis of Census Construction Spending data shows that total private residential construction spending fell 0.6% in May, the first decline after a strong start this year and the largest one since June 2014.

In October, home building fell 0.5%, while non-residential construction retreated 0.3% as declines in construction of medical facilities and shopping centres offset a gain in office construction. Government spending was up 0.8% in October, a rebound that reflected gains in both state and local projects and federal spending.

NAR: Pending home sales up 10.3% from last year Pending home sales stalled in July, down 0.8 percent in the National Association of REALTORS® (NAR. a year ago, the typical listing has gone under contract within a month since April, and inventory.

WASHINGTON (AP) – 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.