Construction spending falls more than expected
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U.S. construction spending fell a sharper-than-expected 1 percent last month as home building posted a seventh straight drop, according to a government report on Friday that underscored the weakness in the U.S. housing market.
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U.S. construction spending took a surprising fall of 0.4 percent in July, its largest drop since January 2007, as gains in commercial building failed to offset declines in home building, a government report showed on Tuesday.
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WASHINGTON - Construction spending surged in August to the highest level on record, while manufacturing grew at a slower pace in September, offering mixed signals about the economy's strength.    The Commerce Department reported Friday that the value of buildings put in place clocked in at a seasonally adjusted annual rate of $1.02 trillion, a record high...
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New orders for U.S.-made durable goods tumbled much more than anticipated in October on a big drop in civilian aircraft but were also down unexpectedly when transportation was stripped from the total, a government report suggesting economic weakness showed on Tuesday.
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Home building projects started in December fell by a sharper-than-expected 14.2 percent to their lowest level in more than 16 years, while permits for future building hit a 14-year low, a government report on Thursday showed.
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The nation's manufacturing sector expanded at a slower rate than expected in June and construction spending plunged in May, reinforcing the belief of some analysts that increasing sluggishness in the economy will prompt the Federal Reserve to pause at last in its credit-tightening regime.
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Federal spending on contractors is expected to grow more quickly than it has historically, though not quite at the booming pace of the three years after Sept. 11, 2001.
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The nation's industrial sector ended 2004 on a high note, with manufacturing activity expanding in December for the 19th consecutive month, a research group reported. But the government said construction spending dropped in November as builders reined in projects in anticipation of higher interest rates.
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Home construction starts fell 2.6  percent in August to their lowest level in more than 12 years  while building permit activity, a sign of future construction  plans, also dropped to a low not seen since mid-1995, a  government report on Wednesday showed.
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Stocks finished lower on Monday -- the  first trading day of the new year -- after a report indicated  job growth may be moderating and another showed an unexpected  drop in construction spending.
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The pace of U.S. home building fell  more sharply than expected in August as builders broke ground  on new homes at the slowest rate since April 2003, a government  report showed on Tuesday.
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Home building projects started in  November fell by 3.7 percent as the pace of single-family home  construction was the slowest in more than 16 years, a  government report on Tuesday showed.
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The pace of U.S. home construction  fell 14.3 percent in January, the sharpest drop since October  that bucked two months of increases and that was much worse  than economists had expected, a government report on Friday  showed.
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WASHINGTON -- Construction of new homes fell in August to the slowest pace in 12 years as troubles in the housing industry continued to intensify.
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Businesses reined in spending on major purchases last month, a sign that corporate America is pulling back as the economy slows down.
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Construction spending surged in August to the highest level on record, while manufacturing grew at a slower pace in September, offering mixed signals about the economy's strength.
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Construction of new homes fell in May as the nation's homebuilders continued to struggle with a steep housing slump that has been exacerbated by rising problems with mortgage defaults.