US construction spending shows neutral trend from April to May

Wednesday, 05 July 2017 00:13:27 (GMT+3)   |   San Diego
       

According to the US Census Bureau, US construction spending during May 2017 was estimated at a seasonally adjusted annual rate of $1,230.1 billion, nearly the same as (±2.5 percent) the revised April estimate of $1,230.4 billion. The May figure is 4.5 percent (±2.5 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 (±1.3 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 (± 0.7 percent) below the revised April estimate of $949.3 billion. Residential construction was at a seasonally adjusted annual rate of $509.6 billion in May, 0.6 percent (±1.3 percent) below the revised April estimate of $512.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $433.6 billion in May, 0.7 percent (± 0.7 percent) below the revised April estimate of $436.7 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $286.9 billion, 2.1 percent (±5.3 percent) above the revised April estimate of $281.0 billion. Educational construction was at a seasonally adjusted annual rate of $74.3 billion, 5.1 percent (±3.3 percent) above the revised April estimate of $70.7 billion. Highway construction was at a seasonally adjusted annual rate of $90.6 billion, 0.9 percent (±16.9 percent) below the revised April estimate of $91.5 billion.

 


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