Monday, July 1, 2013

Construction Spending Increased 0.5% in May

Construction spending increased 0.5% in May and is 5.4% above year ago levels. April’s report was revised down while March’s report was revised up to 0.1% and -0.1% respectively.

Public construction led the gains in May, which improved 1.8% from the previous month. Public construction continues to be driven by transportation, power and water supply. Private construction had no net gain, but private residential improved 1.2% from April while private non-residential shrank 1.4%.

Read the Census report.

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