66 F
Los Angeles
Wednesday, Feb 1, 2023
-Advertisement-

Construction Spending Falls

Spending on construction projects fell for a third straight month in May, reflecting declines in the building of homes, offices and shopping malls.


The Commerce Department reported Friday that construction activity dropped 0.9 percent in May to a seasonally adjusted annual total of $1.1 trillion. The decrease surprised economists, who had been forecasting that construction would climb to a record level in May, rising a solid 0.5 percent.


*

Read the full Associated Press story

.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-