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Construction spending up 0.9% in May on surge in homebuilding

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Private payrolls increase 275,000 in April * ISM manufacturing index falls 2.5 pts to 52.8 in April * Construction spending drops 0.9 percent in March WASHINGTON, May 1 (Reuters. with spending on.

Construction spending increased 1.0% in February. But the 0.2% January gain was revised up to 0.7%, while the 0.9% ex-auto result was bumped to 1.4%, so that offsets some of the February slip. The.

US construction spending drops 0.9% as housing takes a hit.. May 1, the Commerce Department reports on U.S. Home building has wobbled but is expected to rebound as the Federal Reserve backs. Inflation threat grows as raw material costs are passed on to customers. the cost of finished goods rose by 0.9% in March, after producer input prices.

The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

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construction payrolls expanded by nearly 700-a 12.7 percent increase. Education and health services employment rose by 800, a 3.8 percent increase. Professional and business services employment increased by 500 jobs, a 4.6 percent increase. Additional gains occurred in restaurants and bars (up 1.8 percent) and state government (up 2.6 percent).

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 · Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

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Construction spending in the U.S. unexpectedly increased in June, boosted by gain in government programs that made up for declines in private residential. percent following a 1.4 percent decrease.

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A surge in homebuilding pushed construction spending up 0.9% in May, the largest amount in five months, further indication that the housing sector is slowly recovering. Construction spending reached a seasonally adjusted annual rate of $830 billion – 11.3% above the 12-year low hit in February of last year, according to numbers released.

 · A surge in homebuilding pushed construction spending up 0.9% in May, the largest amount in five months, further indication that the housing sector is slowly recovering.Construction.

but a surge in factory jobs indicated that the sector’s energy-led recovery was gaining momentum. Other data on Monday showed construction spending rising to a near 11-year high in February, lifted by.

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