U.S. construction spending fell in April by the biggest amount in five years, dragged by declines in housing, commercial construction and spending on government projects.
U.S. officials say the Pentagon's long-awaited plan to shut down the detention center at Guantanamo Bay, Cuba, and transfer the remaining detainees to a facility in the United States calls for up to $475 million in construction costs that would ultimately be offset by as much as $180 million per year in operating cost savings.
A big jump in apartment construction in the Midwest and South boosted the pace of homebuilding in November, marking a solid bounce back after tumbling in October. Construction of single-family houses also increased and reached an eight-year high.
U.S. homebuilders are feeling slightly less confident in their sales prospects heading into next year, even as their overall sales outlook remains favorable.
After a strong finish to 2014, residential construction in New Jersey started 2015 on a positive note. Homebuilders drew 1,740 building permits which was just shy of the best January since 2007.
WASHINGTON (AP) -- U.S. construction spending fell in August, the second decline in the past three months, with housing, non-residential and government projects all showing weakness.