May Construction Spending Rises 0.1%

Construction spending rose 0.1% in May, the Commerce Department said, 6.6% above the May 2013 level.

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In April, construction spending grew a revised 0.8%, first reported as a 0.2% increase.

Spending on private construction fell 0.3% in the month, while public construction gained 1.0%.

Residential construction fell 1.5% and single-family housing dropped 1.4% in the month.

Multi-family housing decreased 0.6%.

Economists polled by Thomson Reuters predicted a 0.5% rise in construction spending.


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