Construction spending flatlines in May as homebuilding declines

In October, home building fell 0.5%, while non-residential construction retreated 0.3% as declines in construction of medical facilities and shopping centres offset a gain in office construction. Government spending was up 0.8% in October, a rebound that reflected gains in both state and local projects and federal spending.

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WASHINGTON (AP) – U.S. construction spending was flat in May with homebuilding falling again, even as buyers face climbing prices and a shortage of available properties on the market.

Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program Fitch Downgrades National City, Wamu, Others on Home Equity Concerns Construction spending flatlines in May as homebuilding declines In this Thursday, May 9, 2013 photo, workmen pour the concrete deck on the east end of the new interstate 90 bridge under construction in Cleveland.

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Construction spending flatlines in May as homebuilding declines WASHINGTON | U.S. construction spending was flat in May with homebuilding falling again, even as buyers face climbing prices and a shortage of available properties on the market. The Commerce Department reported on Monday no increase in construction spending in May, which follows a report two weeks ago showing that housing starts fell for the third straight month.

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.

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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 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.

 · ARLINGTON, VA. – U.S. construction spending reached a record level of $1.3 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America.