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Construction spending up 0.9% in May on surge in homebuilding

Construction spending inched up 0.1% in December to a seasonally adjusted annual rate of $1.116 trillion, the commerce department reported monday. December’s results were 8.2% higher than December.

Consumers will cautiously boost spending in response to gains in employment, income, and household net worth. Homebuilding will rise in 2014-16 as supply catches up with demand. Capital spending will accelerate in 201415 in response to global market growth, replacement needs,

Prices are up and. (i.e., home building and related activity) to GDP. Here we see that residential construction spending is still very low compared to the rest of the economy. Activity has rarely.

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Overall construction spending was up 4.5% year-over-year in June and 0.4% over May. For residential constructon, spending was up 0.8%. Single-family home construction spending was up 8.2% in June over the previous year. Multi-family housing spending was also up 4.2% year-over-year. Millenials really do want to be homeowners.

Economist Reports the Housing Market Double Dip is Beginning Tyler Durden. While the Fed may be surprised that low income workers aren’t as enthused about inflation as they are, we are not. A recent Bloomberg report looked at the stark disconnect between Fed policy and well, everybody else but banks and the 1%. While the Fed sees low inflation as "one of the major challenges of our time," Shawn Smith, who trains some of the nation’s most vulnerable.

Total private construction spending declined 0.7%, led by a 1.8% drop in residential spending. Nonresidential spending increased 0.5%. Total public construction spending declined 1.3%, led by declines across most nonresidential categories, the most influential of which was a 1.9% decline in highway and street spending.

Spending on construction projects rose 0.8% to an all-time high of $1.257 trillion in November according to the Commerce Department. Year-over-year construction spending was up 2.4%. In the details, private residential projects surged 1% to its highest level since February 2007, following a 0.3% increase in October.

A surge in homebuilding pushed U.S. construction spending up by the largest amount in five months, the latest indication that the housing sector is slowly recovering. Construction spending rose 0.9 percent in May, following a 0.6 percent rise in April, the Commerce Department reported Monday, July 2, 2012.

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WASHINGTON, May 1 (Reuters) – U.S. construction spending unexpectedly fell in March after three straight monthly gains, pulled down by declines in both private and public construction projects.

A slide in spending. 2.3% surge in online sales. Sales at furniture and home furnishing stores increased 1.2%. Electronics and appliance stores reported a 1.4% rise in sales. Auto sales, which.

Relief may be in sight, however, for at least two of those key components: lumber and lending. Lumber prices surged in early 2018, a result of concerns over NAFTA talks, supply shortages from.

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