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.

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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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.

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 says spending fell 0.8%, the.

Government construction spending rose at the state and federal levels after declines last month. State and local government construction rose 1.7 percent after last month’s decline of 2.7 percent.

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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.

In September, the estimated seasonally adjusted annual rate of public construction spending was $270.9 billion, 1.3% below the revised August estimate of $274.4 billion.

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WASHINGTON – U.S. construction spending barely increased in May as gains in spending on nonresidential projects such as office buildings and public construction were largely offset by a big drop in.

WASHINGTON (AP) – Spending on U.S. construction projects fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential. Construction has been weak.

(CN) – Construction, projected to be a key pillar of economic growth for the rest of the year, was flat in May, as flagging new home building continues. fifth straight monthly decline for the.

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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.

Homebuilding took a big hit, with private residential spending falling 1.5% after rising 0.5% the month before. Construction spending flatlines in May as homebuilding declines | 2014-07-01.

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