Construction spend slips

摘要

Weak public spending has been largely blamed for a fall in May's construction spending figure in the US. Wells Fargo reported that total seasonally-adjusted spending across the industry stood at 0.8%, equating to US$ 1,143.3 billion -down from April's figure of US$ 1,152.4 billion. The report stated highway and street, as well as education construction work both saw a drop in activity during May, while federal highway projects fell significantly, by 14.2%. Across the board, the report paints a gloomy picture, with private single-family housing construction down 0.3%.