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Posted July 5, 2017

Construction spending flat in May

Construction spending during May was estimated at a seasonally adjusted annual rate of $1,230.1 billion, flat compared to the revised April estimate of $1,230.4 billion.


The May figure is 4.5 percent above the May 2016 estimate of $1,177.0 billion. During the first 5 months of this year, construction spending amounted to $469.2 billion, 6.1 percent above the $442.4 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $943.2 billion, 0.6 percent below the revised April estimate of $949.3 billion. Residential construction was 0.6 percent below April, and nonresidential construction was down 0.7 percent.

Public construction spending was $286.9 billion, 2.1 percent above the revised April estimate of $281.0 billion. Educational construction was 5.1 percent above April. Highway construction was 0.9 percent lower than in April.

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