US construction spending at $841.9 billion annual rate in May

Friday, 02 July 2010 01:18:45 (GMT+2)

During the first five months of this year, construction spending amounted to $314.2 billion, 12.0 percent below the $356.9 billion for the same period in 2009.

Looking to the private sector, spending on private construction was at a seasonally adjusted annual rate of $536.3 billion, 0.5 percent below the revised April estimate of $538.9 billion. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in May, 0.4 percent below the revised April estimate of $261.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $275.6 billion in May, 0.6 percent below the revised April estimate of $277.2 billion.

As far as public construction, for the month of May, the estimated seasonally adjusted annual rate of public construction spending was $305.5 billion, 0.4 percent above the revised April estimate of $304.4 billion. Educational construction was at a seasonally adjusted annual rate of $74.0 billion, 0.9 percent below the revised April estimate of $74.6 billion. Highway construction was at a seasonally adjusted annual rate of $83.1 billion, 2.7 percent above the revised April estimate of $80.9 billion.

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