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.
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted.
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Construction spending is on the decline after a slight dip in March. According to the latest data from the Census Bureau, total construction spending is at a seasonally-adjusted annual rate of $1.28 trillion, nearly 1% below February’s revised estimate. March is also nearly a.
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Residential construction spending year-to-date is down more than 8%. home- building peaked in April 2018 and has since declined by more than 11%.. while strong demand for new homes suggests builders may soon.
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 ROSE by 0.05% in September, in-line with market expectations. The August estimate was revised modestly higher from 0.10% to 0.85%, while the July estimate was unchanged. Construction spending is now 7.2% ABOVE its year ago level. Residential Construction ROSE by 0.6%, Homebuilding is now 5.1% ABOVE its year ago level.
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Construction spending flatlines in May as homebuilding declines. By. Isabel Coffman. Posted in. mortgage brokers. contents Pay $395 million Local government spending Transportation construction (airports Ports) jumped 11.7 Rate mortgage (frm) fell Residential construction outlays The best and.
Nevertheless, the total private residential construction spending is +11.2 per. The monthly declines are largely attributed to the slowdown of.
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 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.
Spending on private construction projects dropped 0.7% in May to the. Private residential construction outlays have now declined for five.
May construction spending flat-lined in May, rising a statistically insignificant 0.1 %, far below analyst expectations. Outlays increased 0.1% after.