Report: Construction Spending Contracts Drop in May as High Rates and Uncertainty Sap Momentum

Construction spending in the United States continued its downward trajectory in May, marking the seventh consecutive monthly decline, according to the latest report from Wells Fargo Economics. The broad-based pullback underscores persistent headwinds stemming from elevated borrowing costs and heightened economic uncertainty, both of which are weighing on new project starts across residential and nonresidential […]