IRVINE, CA-Housing construction is currently the one bright spot for construction spending nationwide, Julie Zisfein, senior associate and economist at Auction.com Research here, tells GlobeSt.com. Both commercial and institutional construction have shown either flattening or significant decline of late, leaving the housing sector responsible for any small gains in spending.

As we reported earlier this week, the US Census Bureau of the Department of Commerce has revealed that construction spending during May was estimated at a seasonally adjusted annual rate of $874.9 billion, which is 0.5% above the revised April estimate of $870.3 billion. The May figure is 5.4% above the May 2012 estimate of $830.4 billion, but has not met economists’ expectations for an economy that some experts say should be well into recovery by now.

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