US construction spending rose 0.4% in April to a seasonally adjusted annual rate of $2.172 trillion, up 0.9% from a year earlier.
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CPKC Implements Contingency Plans Following IBEW Strike
CPKC has implemented contingency plans to maintain rail operations across Canada after approximately 300 IBEW members began a strike on May 31.
US Nonresidential Construction Spending Edges Higher in April
US nonresidential construction spending rose 0.1% in April to a seasonally adjusted annual rate of $1.250 trillion, led by gains in public projects.
US Investor Home Purchases Fall to Lowest Level Since 2020
US investor home purchases fell 6% year-over-year in Q1 to their lowest level since 2020, although investors still accounted for 19% of home purchases.
Canadian Real GDP Slips in March
Canadian real GDP fell 0.1% in March as goods-producing sectors contracted, while preliminary data point to a 0.4% increase in April.
Canadian Payroll Employment Falls in March
Canadian payroll employment fell 0.2% in March, while job vacancies held steady at 500,300—down 3.2% from a year earlier.
US New Single-Family Home Sales Fall in April
New residential single-family home sales were at a seasonally adjusted annual rate of 622,000 in April, 6.2% below the March rate.
US Real GDP Increases at an Annual Rate of 1.6% in Q1, BEA Reports in Its “Second” Estimate
US real GDP grew at an annual rate of 1.6% in Q1, a downward revision from the “advance” estimate.
US Personal Income and Outlays for in April
Personal income was little changed in April, while personal consumption expenditures increased 0.5%, the BEA reported.
US Mortgage Rates Continue to Inch Higher in the Week Ending May 28
The 30-year fixed-rate mortgage averaged 6.53%, up from 6.51% the previous week, Freddie Mac reported.