Construction Spending Rose 4.5% YOY in May

Washington, DC, July 2, 2018-Construction spending during May 2018 was estimated at a seasonally adjusted annual rate of $1,309.5 billion, 0.4% above the revised April estimate of $1,304.5 billion, according to the U.S. Census.

The May figure is 4.5% above the May 2017 estimate of $1,253.6 billion.

During the first five months of this year, construction spending amounted to $497.1 billion, 4.3% above the $476.7 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $1,005.4 billion, 0.3% above the revised April estimate of $1,002.3 billion. Residential construction was at a seasonally adjusted annual rate of $553.8 billion in May, 0.8% above the revised April estimate of $549.3 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $451.5 billion in May, 0.3% below the revised April estimate of $453.0 billion.