March U.S. construction spending rose 0.1% month-over-month, which was much weaker than the 0.4% increase expected by consensus. It also comes after February was revised downward to a 1.4% drop (previously down 1.1%). Residential spending rose 0.7% in March, after falling 2.2% in February. Nonresidential spending also rose 0.7% after a 1.7% drop in February [...]
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U.S. Home Builder Sentiment Rises 5 Points In May
The National Association of Home Builders (NAHB)/Wells Fargo housing market index rose to 29 points, the strongest reading since May 2007, from 24 in April. In May, three out of four regions posted improving builder sentiment. The Northeast registered a 6-point gain to 32, and the data showed 5-point gains to 27 and 28 in [...]