Construction Spending Dips In May As New Residential Activity Stalls, While Nonresidential Projects Decline For Third Consecutive Month

Total construction spending edged down 0.1 percent in May as spending on new houses and apartments stalled, while public and private nonresidential construction slumped, according to an analysis the Associated General Contractors of America released today of federal spending data. Association officials said the construction industry’s capacity to build projects was...