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· U.S. construction spending posted the smallest annual increase since 2011 as homebuilding slowed amid higher borrowing costs and a glut of apartments in some areas. The value of construction put.
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The 0.9% drop in government construction projects was the first decline in five months. Spending by state and local governments fell 0.6% while construction spending by the federal government was.
In May, the estimated seasonally adjusted annual rate of public construction spending was $340.6 billion, 0.9% below the revised April estimate of $343.7 billion.
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.
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%.
· According to an Associated Builders and Contractors analysis of U.S. Census Bureau data recently published, national nonresidential construction spending declined 0.9% in May, totaling $788.5 billion on a seasonally adjusted annualized basis and a 4.4% increase compared to the same time last year. While total public and private nonresidential spending declined 0.9% since April, public spending.
A surge in homebuilding pushed construction spending up 0.9% in May, the largest amount in five months, further indication that the housing sector is slowly recovering.Construction.
The Commerce Department reported Monday that spending fell 0.8% in May, the first decline since a 1.3% drop in November, to a seasonally adjusted annual rate of $1.29 trillion.
In May, the estimated seasonally adjusted annual rate of public construction spending was $269.6 billion, 0.4 percent (±2.1%)* below the revised April estimate of $270.7 billion.
· Eight Construction Subsectors Registered Gains in May 2012 Total construction spending increased 0.9% in May 2012 and is up 7% from May 2011 even while nonresidential construction remained.
Many employed veterans unable to afford typical mortgage For the purposes of mortgage qualification, this figure is calculated by dividing your recurring monthly debt by your recurring average monthly income. Of course, this is problematic if you’ve taken out loans to start or support your business. Two Years of Personal and Business Tax Returns for the Self-Employed. Unfortunately, tax write-offs.
A surge in homebuilding pushed construction spending up 0.9% in May, the largest amount in five months, further indication that the housing sector is slowly recovering. Construction spending reached a seasonally adjusted annual rate of $830 billion – 11.3% above the 12-year low hit in February of last year, according to numbers released.