reflecting weakness in home building, nonresidential construction and the largest drop in government projects in 17 years. The Commerce Department said Thursday that spending fell 1.3% in June. It.
Economists polled by Reuters had forecast construction spending would rise 0.1% in May. Construction spending fell 2.3% on a year-on-year basis in May. Weak construction spending was the latest indication that economic growth slowed in the second quarter after getting a temporary boost from exports and an accumulation of inventory.
Jobless claims fall to lowest level since 2007 Washington: The number of Americans filing new claims for unemployment. the state-level data. The four-week moving average for new claims, a better gauge of job market trends, dropped 6,250 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% in.
Homebuilding declines were nearly matched by gains in nonresidential construction in May as total construction spending in the U.S. was flat for the month, according to preliminary estimates from.
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 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.
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%.
Spending on U.S. construction fell 0.8% in May, the first drop in six months, as home building fell for a fifth straight month. Spending on all.
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Construction spending flatlines in May as homebuilding declines U.S. construction spending unexpectedly fell in March as a sharp decline in homebuilding led to the biggest drop in investment in private construction projects in more than seven years.
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NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted.