The latest Associated Builders and Contractors (ABC) analysis of data published by the U.S. Census Bureau has indicated a slight (0.1%) increase in nonresidential construction spending nationwide for ...

Nationwide nonresidential construction spending decreased by 0.1% in the month of November, according to an Associated Builders and Contractors (ABC) analysis of recent U.S. Census Bureau data. On a s...

WASHINGTON (Reuters) -U.S. construction spending fell in July as high mortgage rates continued to constrain the housing market. The Commerce Department’s Census Bureau said on Tuesday that construction spending slipped 0.1% after an unrevised 0.4% drop in June. The decline was in line with economists’ expectations. Spending dropped 2.8% on a year-over-year basis in July. Spending on private construction projects fell 0.2%. Investment in residential construction gained 0.1%, with outlays on new single-family housing projects nudging up 0.1%. Residential investment contracted in the second quarter at its fastest pace in 2-1/2 years. It is expected to decrease further in the third quarter, which would mark the third straight quarterly decline. High mortgage rates have undercut the housing market. Though mortgage rates have eased from this year’s lofty levels on expectations that the Federal Reserve would resume cutting interest rates in September, they remain elevated. A slowing labor market is also becoming a constraint for home sales. The inventory of completed new homes for sale was the highest in 16 years in July. Outlays on multi-family housing units dropped 0.4% in July. Investment in private nonresidential structures like offices and factories decreased 0.5%. Spending on nonresidential structures contracted in the April-June quarter for the second straight quarter. Spending on public construction projects increased 0.3%. State and local government construction spending rose 0.1% while outlays on federal government projects increased 3.2%. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Which stocks should you consider in your very next trade? The best opportunities often hide in plain sight—buried among thousands of stocks you'd never have time to research individually. That's why smart investors use our Stock Screener with 50+ predefined screens and 160+ customizable filters to surface hidden gems instantly. For example, the Piotroski's Picks method averages 23% annual returns by focusing on financial strength, and you can get it as a standalone screen. Momentum Masters catches stocks gaining serious traction, while Blue-Chip Bargains finds undervalued giants. With screens for dividends, growth, value, and more, you'll discover opportunities others miss. Our current favorite screen is Under $10/share, which is great for discovering stocks trading under $10 with recent price momentum showing some very impressive returns!

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