May U.S. Construction Dips

U.S. construction spending in May was estimated at a seasonally adjusted annual rate of $1.55 trillion, down 0.3% from April but 7.5% higher than the year prior.  Private construction spending decreased 0.3% from April to a seasonally adjusted annual rate of $1.20 trillion.  Residential levels for May rose 0.2% from the previous month to $751.7 billion and non-residential totals fell 1.1% from April to $451.6 billion.  See  U.S. Census Bureau