CONSTRUCTION SPENDING UP 0.4 PERCENT IN MAY

Spending on U.S. construction projects rose 0.4 percent in May, while April’s figure was revised down – signs of uneven building despite economic growth. The Commerce Department says the uptick in May brought total construction spending to a seasonally adjusted all-time high of $1.31 trillion, 4.5 percent higher than a year ago. April’s figure was revised down significantly to 0.9 percent from a 1.8 percent gain, which would have been the largest increase in 24 years.