Construction Spending Growth Slowest since Nov. '14

(Negative) The value of construction put in place in May 2016 was $98,044 (millions of real dollars). While this was the highest value of construction put in place since October 2015, compared with one year ago spending in May was up 9.2 percent. That was the slowest rate of growth since November 2014. The month-over-month rate of growth has decelerated substantially since September 2015, falling to 9.2 percent from 25.2 percent. As a result, the annual rate of growth decelerated for the second straight month. This trend will continue in the upcoming months. 

Real construction spending is a good leading indicator for construction materials, hardware, and HVAC industrial production.