Loading…
Saturday, July 26, 2014
Current Weather
Loading Current Weather....
Published: Tuesday, 7/3/2012

Construction spending rises 0.9% in month

BLADE NEWS SERVICES

WASHINGTON — U.S. construction spending rose 0.9 percent in May from April, the Commerce Department reported Monday. The surge, driven mostly by home building, was the second straight monthly increase and the biggest percentage gain since December.

The May increase pushed spending to a seasonally adjusted annual rate of $830 billion. That is 11.3 percent above a 12-year low hit in February, 2011, but is roughly half of what economists consider to be healthy.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories








Poll