By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON (AP) — U.S. construction spending fell 0.3% in May with housing activity slowing and nonresidential construction falling.
The Commerce Department reported Thursday that the May decline followed a slight 0.1% rise in April.
Housing construction has been one of the standout performers for the economy during the pandemic, but activity slowed in May, rising by just 0.2% as a 0.8% increase in single-family home construction offset a flat reading for apartment construction.
Nonresidential construction fell 1.1% in May with office building flat and hotel and motel construction down 3%.
___
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tagged with construction spending