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Housing Starts, Permits Rise in May

In a sign that the housing market continues to show forward momentum, single-family permits posted an 11.9% gain in May, while total housing starts increased 4.3% to a seasonally adjusted annual rate of 974,000 units, according to a report from the U.S. Housing and Urban Development and Commerce Department.

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Trump Team Reportedly Working on Infrastructure Bill

The Trump administration is preparing a nearly $1 trillion infrastructure proposal as part of its push to spur the world’s largest economy back to life, according to people familiar with the plan.

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Oldcastle Division Develops WHO-compliant Hand Sanitizer

Techniseal, a division of Oldcastle APG and manufacturer of products for the installation and protection of outdoor hardscapes, announced the addition of a new medical-grade hand sanitizer to its product offering.

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Construction Starts Post Small Gain in May

Total construction starts rose 3% from April to May to a seasonally adjusted annual rate of $595.1 billion, following a 25% decline the previous month. Several large nonresidential building projects broke ground in May resulting in the gain. Removing those large projects from the statistics would have resulted in no change in starts over the month. In May, nonresidential buildings increased 8%, while residential building starts rose 4%. Nonbuilding starts, however, declined 4% during the month.

Read more: Construction Starts Post Small Gain in May