Construction spending fell 0.8% in May to $1.3 trillion, according to the U.S. Census Bureau. The spending is 2.3% below May 2018 rates.
Residential construction spending fell 0.6% in May (down 11.2% year-over-year), and nonresidential spending fell 0.9% (up 4.4% year-over-year).
Total private construction spending during May had a 0.7% decrease (down 6.3% year-over-year), and public construction fell 0.9% (up 10.8% year-over-year).
The full May construction spending report can be found here.
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