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Construction spending flatlines in May as homebuilding declines

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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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WASHINGTON (AP) – Spending on U.S. construction projections fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a.

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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.

Multifamily Outperforming Private Single Family Construction Those declines were offset by a 4.8% surge in government construction spending to a record high of $299.4 billion, led by big gains in state and local government spending, which also rose to a.

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 totaled $1.282 trillion in March, down 0.9 percent from February and down 0.8 percent from March 2018," Simonson noted. "However, the yearly decline was confined to single-family homebuilding, which fell by 8.4 percent over 12 months.

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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.

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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 month. The Commerce department reported monday that.

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. US construction.

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