Private residential construction was at a seasonally adjusted annual rate of $228.9 billion in May, 2.1 percent below the revised April estimate of $233.8 billion, according to the latest statistics from the U.S. Department of Commerce.
Overall construction spending-including public and private building-in May was estimated at $753.5 billion, 0.6 percent below the revised April estimate of $757.9 billion. The May figure is 7.1 percent below the May 2010 estimate of $811.2 billion. During the first 5 months of this year, construction spending amounted to $285.1 billion, 6.3 percent below the $304.4 billion for the same period in 2010.
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