May U.S. Construction Spending Down Slightly

U.S. construction spending in May was estimated at a seasonally adjusted annual rate of 1.78 trillion, down 0.1% from April and a 9.7% increase over the year prior. Private construction spending remained consistent with April’s seasonally adjusted annual rate of $1.44 trillion. Residential totals for May grew 0.2% from the previous month to $938.2 billion and non-residential totals were 0.4% lower than April at $497.8 billion.  See U.S. Census Bureau