US Construction Spending Fell in May

US Construction Spending Fell in May


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%.


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