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

U.S. construction spending surged 1.8 percent to a record high in April as home building rose by the largest amount in 24 years. The April gain reversed a 1.7 percent drop in March, the Commerce Department reported Friday. The strength stemmed from a sizable 4.5 percent rise in residential.

WASHINGTON – U.S. construction spending edged up a disappointing 0.1% in August as continued weakness in nonresidential construction offset the best gain in home building in nine months. The latest figure marked the fourth month of lacklustre results, including declines in May and June and a flat reading in July, the Commerce Department reported Tuesday.

US construction spending up 1.8 percent in April to record. Spending on single-family homes was flat in April. But the overall level of residential spending was the highest since October 2006. The increase in nonresidential spending included a 3 percent rise in spending on hotels and motels and a 1.8 percent rise in office building.

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"Given the uncertainty in the economy, businesses are very cautious about spending in construction as well as equipment, and this is not a very good sign," said. the U.S. economy grew at a 1.8%.

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.

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US construction spending was flat in April as housing fell By CHRISTOPHER RUGABER June 3, 2019 WASHINGTON (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.

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Construction spending in the U.S. reached an all-time high in May on the strength of homebuilding-both from the public and private sectors. According to the latest data from the Commerce Department, spending rose 0.4 percent in May to a seasonally adjusted annual rate of $1.309 trillion.