Construction spending in May was estimated at a seasonally adjusted annual rate of $1,230.1 billion, unchanged from April's rate but 4.5 percent higher than the rate of $1,177 billion in May 2016, according to the U.S. Census Bureau.
Private construction spending in May was at a seasonally adjusted annual rate of $943.2 billion, 0.6 percent down from the April rate of $949.3 billion. Residential construction was at a rate of $509.6 billion, a 0.6 percent decrease compared with the rate of $512.7 billion in April. Nonresidential construction was at a rate of $433.6 billion, a 0.7 percent decline compared with April's rate of $436.7 billion.
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