Construction Spending Declined 0.3% in May

Washington, DC, July 1, 2025-Construction spending during May 2025 was estimated at a seasonally adjusted annual rate of $2,138.2 billion, 0.3% below the revised April estimate of $2,145.5 billion. The May figure is 3.5% below the May 2024 estimate of $2,215.4 billion. During the first five months of this year, construction spending amounted to $841.5 billion, 2.1% below the $859.6 billion for the same period in 2024.

Spending on private construction was at a seasonally adjusted annual rate of $1,626.6 billion, 0.5% below the revised April estimate of $1,634.2 billion. Residential construction was at a seasonally adjusted annual rate of $888.9 billion in May, 0.5% below the revised April estimate of $893.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $737.7 billion in May, 0.4% below the revised April estimate of $740.6 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $511.6 billion, 0.1% above the revised April estimate of $511.3 billion. Educational construction was at a seasonally adjusted annual rate of $111.8 billion, 0.2% above the revised April estimate of $111.6 billion. Highway construction was at a seasonally adjusted annual rate of $143.2 billion, 0.3% below the revised April estimate of $143.7 billion.