The US Census Bureau released the latest read on construction spending Tuesday, showing a mixed bag for May. Both total private construction spending and single family construction spending declined, but non-residential construction spending increased.
The US Census Bureau released their latest read on construction spending. Total private construction spending and single family construction spending since March has gone up, while non-residential construction spending declined.
Construction spending increased 0.92 percent in July, with residential construction spending up 19 percent from a year ago.
US adds 175,000 jobs in May, in line with expectations but not enough to reduce the unemployment rate. Elsewhere in the economy, manufacturing and construction disappoint, but jobless claims fall.
Filings with the Securities and Exchange Commission revealed recent investment decisions made by Berkshire Hathaway, the investment group led by Warren Buffett. In addition to buying and selling stocks in its $85 billion U.S. stock portfolio, the company owns 80 other companies, some of which account for more than half its income.
Construction spending increased 2.17 percent in February 2013, according to the US Census. That's 20.08 percent above the construction spending level seen in February 2012.
Total residential construction in January was down 0.02 percent from December. Single family construction climbed 3.62 percent in January, but non-residential spending dropped 5.08 percent during that period.