Friday, July 1, 2016

Construction Spending Fell 0.8 Percent in May

Construction spending fell 0.8% in May to $1,143.3 billion (SAAR). April’s spending estimate was revised up to $1,152.4 billion. During the first five months of the year, construction spending amounted to $438.5 billion, 8.2% higher than in the first five months of 2015.

Total private construction fell to a rate of $859.3 billion, 0.3% below the revised April estimate of $861.9 billion.

Private residential construction was at a seasonally adjusted annual rate of $451.9 billion, largely unchanged from the previous month’s rate.

Private nonresidential construction fell 0.7% to a rate of $407.4 billion, as construction related to commercial, educational, manufacturing and other segments fell.

Public construction fell 2.3% to a rate of $284.0 billion, in large part due to a 5.4% decline in educational construction.

Read the Census release.
Visit Banks and the Economy.

No comments:

Post a Comment

Please read our comment policy before making a comment.