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U.S. Construction Spending Down in May

U.S. construction spending in May was estimated at a seasonally adjusted annual rate of $1.3 trillion, down 0.8% from April and 2.3% lower than the comparable month last year.

Private construction spending fell 0.7% from April to $953 billion. Residential levels decreased 0.6% in May to $499 billion, and non-residential totals were down 0.9% from April to $454 billion. See U.S. Census Bureau

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