Mortgage News

U.S. construction spending flat in April, little sign of housing rebound

Spending on U.S. 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.

What happened: The government’s construction spending data is volatile, but the trend is solidly up, in a good sign for the economy. In May, spending was 4.5% higher compared to a year ago, and.

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.

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Bob East, the co-owner of a construction company in Little. showing signs of malfunction. After a big run that pushed average manhattan condominium and co-op prices above $2 million, they dropped.

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.

U.S. construction outlays rose in April after recording a fall in March. Construction spending rose 1.8 percent in the month. Most of the rise was driven by a 4.4 percent rise in residential.

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.

If you are looking for signs of a slowdown in the U.S. economy. the same spending boost as it has in the past. For more information, reference our report. Lower mortgage rates have not yet proved.

Private Residential Construction Spending Slows in April By Na Zhao on June 1, 2017 (). NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $522.2 billion in April, 0.7% lower than upwardly revised March estimates.

Here are our key takeaways from the report: A rebound in hiring could lift confidence in the U.S. economy. seeing their spending power increase. Year-over-year gains in weekly wages have been north.