In May 2015, US construction spending grew to its highest level in over six and a half years. Outlays increased across the industry, the latest sign of momentum in the economy.
Reaching the highest level since October 2008, construction spending increased 0.8% to an annual rate of US$1.04 trillion.
In May, construction spending was lifted by a 0.9% increase in private construction spending reaching the highest level since July 2008. Spending on private residential construction also rose 0.3%.
Edited from source by Joseph Green. Source: Reuters