US construction spending fell 2.1% in May

Business
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WASHINGTON (AP) — U.S. construction spending fell for a second month in May with both home building and nonresidential activity declining.

The Commerce Department said May activity dropped by 2.1% following an even larger 3.5% fall in April as the construction industry was rocked by the shutdowns triggered by the coronavirus pandemic.

Home building dropped 4% with construction of single-family homes down 8.5%. Nonresidential construction dropped 2.4% with office building and the category that covers shopping centers both down.

Spending on government construction projects rose 1.2% in May.

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