U.S. Construction Spending through May Exceeds 2019
U.S. construction spending in May was estimated at a seasonally adjusted annual rate of $1.36 trillion, falling 2.1% from April but rising 0.3% from the year-ago period. Year-to-date spending rose 5.7% from the first five months of 2019 to $543.2 billion.
Private construction spending decreased 3.3% from April to a seasonally adjusted annual rate of $1.0 trillion. Residential levels for May were down 4.0% from the previous month to $535.9 billion, and non-residential totals dipped 2.4% from April to $465.3 billion. See U.S. Census Bureau