Menu
Posted July 6, 2022

Construction spending ticked down in May

Construction spending in May was estimated at a seasonally adjusted annual rate of $1,779.8 billion, 0.1 percent below the revised April estimate of $1,782.5 billion.


The May figure is 9.7 percent above the May 2021 estimate of $1,621.9 billion. During the first five months of this year, construction spending amounted to $686.9 billion, 11.0 percent above the $619.0 billion for the same period in 2021.

Spending on private construction was at a seasonally adjusted annual rate of $1,436.0 billion, virtually unchanged from the revised April estimate of $1,435.9 billion. Residential construction was at a seasonally adjusted annual rate of $938.2 billion in May, 0.2 percent above the revised April estimate of $935.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $497.8 billion in May, 0.4 percent below the revised April estimate of $499.9 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $343.8 billion, 0.8 percent below the revised April estimate of $346.6 billion. Educational construction was at a seasonally adjusted annual rate of $78.4 billion, 0.4 percent below the revised April estimate of $78.7 billion. Highway construction was at a seasonally adjusted annual rate of $98.1 billion, 2.3 percent below the revised April estimate of $100.4 billion.

Click for details.

SPONSORED ADS