May Construction Spending Up 0.8% Over April, 8.2% YOY

Washington, DC, July 1, 2015—Construction spending during May 2015 was estimated at a seasonally adjusted annual rate of $1.036 trillion, 0.8% above the revised April estimate of $1.027 trillion, according to the U.S. Census Bureau of the Department of Commerce.

The May figure is 8.2% above the May 2014 estimate of $957.6 billion.

During the first five months of 2015, construction spending amounted to $382.1 billion, 5.9% above the $360.8 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $752.4 billion, 0.9% above the revised April estimate of $745.6 billion. Residential construction was at a seasonally adjusted annual rate of $359.5 billion in May, 0.3% above the revised April estimate of $358.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $392.8 billion in May, 1.5% above the revised April estimate of $387.1 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $283.4 billion, 0.7% above the revised April estimate of $281.5 billion. Educational construction was at a seasonally adjusted annual rate of $65.3 billion, 0.7% below the revised April estimate of $65.8 billion. Highway construction was at a seasonally adjusted annual rate of $85.1 billion, 2.1% above the revised April estimate of $83.3 billion.