Posted July 1, 2016

Construction spending down 0.8 percent

Construction spending during May 2016 was 0.8 percent lower than in April, according to the monthly report from the U.S. Census Bureau.

May construction spending was estimated at a seasonally adjusted annual rate of $1.14 trillion, 0.8 percent below the revised April estimate of $1.15 trillion.

The May figure is 2.8 percent above the May 2015 estimate of $1.12 trillion. 

Spending on private construction was at a seasonally adjusted annual rate of $859.3 billion, 0.3 percent below April. Public construction spending was $284.0 billion, 2.3 percent below April.