Residential construction fell by 1.4 percent, revealing ongoing struggles in the housing sector. Nonresidential activity rose 0.4 percent, while spending on government. in hotel and motel.
Due to the lapse in federal funding from December 22, 2018 through January 25, 2019, annual revisions will be released later than normal. With the release of data for July 2019 on September 3, 2019, unadjusted data will be revised back to January 2013 and seasonally adjusted data will be revised back to January 2008.
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US construction spending fell 1.3 percent from a month earlier at a seasonally adjusted annual rate of USD 1.29 trillion in June of 2019, following a downwardly revised 0.5 percent decline in the previous month and against market expectations of a 0.5 percent rise. It was the largest drop since November last year.
Residential construction has always fallen below trend levels in a recession. If we rule out government spending as being politically determined, the other. continued the decline that ended in April of 2008, which would have. then it appears the US economy had a difficult time recovering from the.
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US/Global Economics. On Sunday I said, “Construction spending. should follow housing permits. the Staffing Index of the ASA for temporary jobs fell to – 2.1% YoY:. which drove down the U-3 even with flat household growth because. though we had increased hiring for essentially 2 months in April.
The new orders index jumped to 57.8 from 53.3, making for the highest level since April 2011. up from 56.5. US Construction Falls U.S. construction spending unexpectedly fell in January, recording.
The housing market. to a six-month high. Spending on private construction projects was flat. Residential construction spending increased 1.2 percent to its highest level since October 2008.
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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.
U.S. construction spending was flat in April as housing fell [From the web] WASHINGTON, DC, June 3, 2019 (Associated Press (AP)) – Spending on U.S. construction projects was unchanged in April as another decline in home construction was offset by a big gain in government spending on projects like highways and hospitals.