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 July/August issue of Industrial Supply magazine features an in-depth cover story about 3BG Supply. 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.
