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US construction spending for May -2.1% vs. 1.0% estimate

July 01, 2020 at 03:00PM

US construction spending for May -2.1% vs. 1.0% estimate
US construction spending for May 2020
– US construction spending for May 2020 fell by -2.1% vs. 1.0% estimate. 
– Prior month was revised lower to -3.5% from -2.9%
Although lower than expected the number is for May when uncertainty was still fairly high.  Nevertheless the revision to the prior month nearly reached the 2011 a low of -3.7%
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