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Posted July 2, 2018

Construction spending rose 0.4 percent in May

Construction spending during May 2018 was estimated at a seasonally adjusted annual rate of $1,309.5 billion, 0.4 percent above the revised April estimate of $1,304.5 billion.


The May figure is 4.5 percent above the May 2017 estimate of $1,253.6 billion. During the first five months of this year, construction spending amounted to $497.1 billion, 4.3 percent above the $476.7 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $1,005.4 billion, 0.3 percent above the revised April estimate of $1,002.3 billion. Residential construction was at a seasonally adjusted annual rate of $553.8 billion in May, 0.8 percent above the revised April estimate of $549.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $451.5 billion in May, 0.3 percent below the revised April estimate of $453.0 billion.

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