Construction spending up 0.9% in May on surge in homebuilding

WASHINGTON (Reuters) – U.S. homebuilding fell in May. 0.9% to a seasonally adjusted annual rate of 1.269 million units last month amid a drop in the construction of single-family housing units, the.

On the other hand, residential was up 0.4% in the month, while nonresidential construction rose 0.9% after four straight declines. Homebuilding spending has increased 6.6% so far this year.

Residential construction spending skidded 1.8% to a seasonally adjusted annual rate of $500.9 billion, lowest since December 2016. Public construction dropped 1.3% to $320.7 billion in March.

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13 days ago · The 0.9% drop in government construction projects was the first decline in five months. Spending by state and local governments fell 0.6% while construction spending by the federal government was.

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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.

A surge in homebuilding pushed construction spending up 0.9% in May, the largest amount in five months, further indication that the housing sector is slowly recovering.Construction.

GDP · Unemployment · Interest Rates · Inflation · Business Spending · Energy · Housing · Retail Sales · Trade. Housing starts and building permits fell in May. Total housing starts declined 0.9% to a seasonally adjusted rate of 1.269 million.. On a year-to-year basis, total inventory was up 2.7% in May.

U.S. construction spending unexpectedly fell in May as investment in private. Homebuilding has remained weak even as mortgage rates have dropped. In May, investment in public construction projects fell 0.9% after surging 4.5% in April.. U.S. billionaire Ross Perot, who shook up 1990s presidential.

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Demographics become favorable for single family markets in the 2020s, though entry-level households may favor. (CCS). Homebuilding segments can be roughly split into four categories: entry-level,

construction sector output dropped 0.4% compared to forecasts of a 0.2% fall, according to the Office for National Statistics. However, the January dip in factory output masks a better underlying trend. Looking over the latest three months, manufacturing production was up 2.1%, its largest rise since May.

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