May construction spending down 0.3% from April estimate
May construction spending was estimated at a seasonally adjusted annual rate of $2,138.2 billion, 0.3% (±0.8%) below the revised April estimate of $2,145.5 billion.
The May figure is 3.5% (±1.3%) below the May 2024 estimate of $2,215.4 billion. During the first five months of this year, construction spending amounted to $841.5 billion, 2.1% (±1.0 percent) below the $859.6 billion for the same period in 2024.
Spending on private construction was at a seasonally adjusted annual rate of $1,626.6 billion, 0.5% (±0.5%) below the revised April estimate of $1,634.2 billion. Residential construction was at a seasonally adjusted annual rate of $888.9 billion in May, 0.5% (±1.3%) below the revised April estimate of $893.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $737.7 billion in May, 0.4% (±0.5%) below the revised April estimate of $740.6 billion.
Public Construction
In May, the estimated seasonally adjusted annual rate of public construction spending was $511.6 billion, 0.1% (±1.5%) above the revised April estimate of $511.3 billion. Educational construction was at a seasonally adjusted annual rate of $111.8 billion, 0.2% (±2.1%) above the revised April estimate of $111.6 billion. Highway construction was at a seasonally adjusted annual rate of $143.2 billion, 0.3% (±4.6%) below the revised April estimate of $143.7 billion.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about the ISA's Veterans Empowerment Network. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
