construction spending rose 1% in February. The data suggests that Americans cut back on home renovations in April. And spending on new home construction was flat.
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. month’s revised figure.
WASHINGTON: US housing starts increased. 4.2 per cent to a rate of 782,000 units in April. The number of houses under construction fell last month as did competitions. Starts for the volatile multi.
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The Commerce Department says the flat reading followed a small increase of 0.1% in March, which was revised higher after an initial estimate showed a sharp decline. Construction spending jumped 1% in February. The data suggests that Americans cut back on home renovations in April. And spending on new home construction was flat.
Looking further into the ONS data, construction activity fell by £521m in the quarter as public sector. "The Tories’.
Commercial construction fell sharply in April, driven by a steep decline in construction of factories. Construction spending in the private sector plunged 1.7%, the steepest in six years.
5 days ago · Spending on US construction projects fell in June by the largest amount in seven months, reflecting weakness in home building, nonresidential construction and the largest drop in government.
NEW YORK, April 2 (Reuters. and came in better than forecast. But U.S. construction spending in February recorded its largest drop in seven months as investment in private and government projects.
The Commerce Department said Thursday that spending on the construction of single-family homes rose 0.6 percent, while apartment building fell. Construction of commercial projects, such as office towers and malls, fell 2.7 percent. Construction spending on new power plants plunged 6.2 percent.
Construction is expected to provide a healthy contribution to economic growth this year. The gain in home construction marked a rebound from a 2.6 percent drop in March and was driven by a 3.6 percent jump in the volatile apartment sector. Spending on single-family homes was flat in April.
Spending on U.S. construction projects was unchanged in April as another decline in home construction was offset by a big gain in government spending on projects like highways and hospitals.