Construction spending in May was at a seasonally adjusted annual rate of $1,143.3 billion, a 0.8 percent decrease from April’s rate of $1,152.4 billion but a 2.8 percent increase compared with the May 2015 rate of $1,112.2 billion, according to the U.S. Census Bureau.
Private construction in May was at a seasonally adjusted annual rate of $859.3 billion, 0.3 percent down from April’s rate of $861.9 billion.
Residential construction in May was at a seasonally adjusted annual rate of $451.9 billion, slightly up from the April rate of $451.7 billion. Nonresidential construction was at a rate of $407.4 billion versus $410.1 billion in April.
Public construction in May was at a seasonally adjusted annual rate of $284.0 billion, 2.3 percent down from April’s rate of $290.5 billion.
