U.S. Construction Spending Increased in May
U.S. construction spending during May was estimated at a seasonally adjusted annual rate of $1.3 trillion, rising 0.4% from April and was 4.5% higher than the year ago period. Year-to-date spending increased 4.3% from 2017 to $497.1 billion.
Private construction spending rose 0.3% from April to a seasonally adjusted annual rate of $1 trillion and was 4.4% above May 2017. Residential levels were up 0.8% from April to a rate of $553.8 billion and increased 6.4% from the year ago period. Non-residential totals increased 0.3% in May to $433.5 billion and were 3% above the comparable month in 2017. See U.S. Census Bureau