Quantcast
Get breaking news alerts via email

Click here to manage your alerts
In this Friday, May 16, 2014 photo, cranes fill the skyline at the Brickell CityCentre construction site located in the center of the Brickell financial district in downtown Miami. The project is mixed use office, residential, hotel, retail and entertainment space. The Commerce Department reports on U.S. construction spending in May on Tuesday, July 1, 2014. (AP Photo/Lynne Sladky)
U.S. construction spending up 0.1 percent in May
Economy » Increases in commercial, public buildings offsets big drop in home building.
First Published Jul 01 2014 09:32 am • Last Updated Jul 01 2014 09:32 am

Washington • U.S. construction spending barely increased in May as gains in spending on non-residential projects such as office buildings and public construction were largely offset by a big drop in home building.

The Commerce Department says construction spending edged up 0.1 percent in May after a much stronger 0.8 percent April increase. The back-to-back gains followed a period of weakness in which spending fell in both January and February and was flat in March.

Join the Discussion
Post a Comment

The construction industry has struggled with an unusually severe winter which curtailed building activity in many regions.

Construction activity totaled $958.1 billion at a seasonally adjusted annual rate in May, up 6.6 percent from a year ago.

Economists are forecasting that housing and overall construction will regain momentum in coming months, helping to boost overall economic growth.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.