Summary
Total construction spending dropped 0.1% during May. Overall spending is now up 9.7% on a year-over-year basis through May. Residential spending, which posted a 0.2% gain in May, is up 18.7% over the past year. By contrast, nonresidential outlays which fell 0.6% over the month are up just 1.0% over the past year as of May.
Read the full article