Construction spending up 0.9% in May on surge in homebuilding

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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 spending reached a seasonally adjusted annual rate of $830 billion – 11.3% above the 12-year low hit in February of last year, according to numbers released.

The tenth residential-spending decline in 12 months, sinking. consensus forecast construction spending would rise 0.1% in May.. Apartment and condo building continues to surpass expectations and is up 8.9% year-to-date.. but delivered its first monthly decline of the year, sliding 0.9% in May.

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(May 2019). $15.2 billion. 2.2% increase. (monthly change). Construction Union. More construction indicators. Investment in building construction May 2019.

Spending In April was revised up from a flat reading to a small gain of 0.4%.The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%.

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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. down 0.6% while nonresidential construction fell 0.9%.

Spending on U.S. construction projects decreased in May, showing the first drop in six months, as home building fell for a. Spending in April was revised up from a flat reading to a small gain of 0.4%.. Spending on government projects also dropped by 0.9%, led by a decline in construction spending by.

Under the public construction umbrella, spending in state and local government construction dropped 0.5% in the month, after declining 1.1% in the prior month. Highway construction was 0.9% down on a.

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.

Home prices fall, but inventory levels improve  · Sales of previously-owned U.S. homes fell in December for the first time in four months, as the market struggles with record-low supply and rising prices, figures from the National Association of.

Construction spending up 0.9% in May on surge in homebuilding By Angel In home loans contents freddie mac mortgages Gse purchased 50% Principal write-downs crisis Acting director edward demarco Residential investment fueled The major factors in this surge of homebuilding.

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%.

Construction spending rose 0.9 percent in May, following a 0.6 percent rise in April, the Commerce Department reported Monday.. A surge in homebuilding pushed U.S. construction spending up by.