Construction spending declines 0.8% in August

Construction spending declines 0.8% in August

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It was the first contraction on an annual basis since August 2016. saw extended price declines. Prices for some major building materials such as steel reinforcing bars were weak in July as high.

Spending on U.S. construction fell 0.8% in May, the first drop in six months, as home building fell for a fifth straight month. Spending on all construction projects fell to a seasonally adjusted.

Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said the figures suggest that the third-quarter GDP.

Spending on residential construction has been weak for a number of months but builders are hopeful that declining mortgage rates will spur a rebound. The 0.6% decline in residential construction reflected a 0.8% fall in spending on new single-family homes partially offset by a 1.9% rise in the smaller apartment sector.

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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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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.

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 In April was revised up from a flat reading to a small gain of 0.4%.

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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.

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 says 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 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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