Construction spending rebounds in May

Investment in building construction edged up 0.8 percent month-over-month to $20.8 billion in May, rebounding from a 2.0 percent decrease in April. According to StatCan data, residential construction spending rose 0.9 percent to $14.4 billion in May. Overall, investment in single-family homes fell 1.3 percent to $6.8 billion, the second monthly decline in a row.