All My Thoughts

Down by 0.2% in construction spending in May in the U.S.

Construction spending in the United States showed a smaller decline than expected in May, official statistics show.

The Commerce Department reported a 0.2% decrease overall expenditure on construction in May to 841.9 billion dollars on an annualized basis, after rising by 2.3% (revised) in April, which was the largest monthly increase in nearly a decade.

Economists and analysts polled by Reuters had forecast an average decline of 0.8% of these expenditures.

Private spending, they have declined 0.4% in May after two months of growth, after stopping a tax credit on real estate.

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