US construction spending fell 2.1% in May

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

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.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Trending Stories