Newsline

Construction spending is slightly up

July 1, 2000
/ Print / Reprints /
ShareMore
/ Text Size+
The U.S. Department of Commerce recently reported that construction spending moved slightly up to a seasonally adjusted annual rate of $809.3 billion in May, an increase of 0.1% over April’s $808.2 billion.

The level was higher than expected by many economists. Forecasts had called for construction spending to decline by 0.3%.

Previously, April construction spending had dropped by 1.1%, which was a larger decrease than was expected.

The May increase was due to a rise in spending on commercial projects, which made up for reductions in residential and government construction. The commercial sector was up 3.5%, hiking it to a seasonally adjusted annual rate of $225.9 billion in May.

Commercial spending increased for industrial and hotel/motel projects, but decreased for office buildings. In April, commercial projects were up 0.1%.

Government construction dropped 2.8% in May to a seasonally adjusted annual rate of $169.3 billion. Spending on schools and hospitals rose, but public housing, highways, and streets decreased. May’s decline followed a 3.1% fall in April.

Residential spending decreased 0.4% to an annual rate of $368 billion in May. New single-family homes and apartments/condominiums were down. Spending on residential construction in April dropped 0.7%.

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con