Construction Spending Down 2.1% in May

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The U.S. government is reporting that total construction spending in May was at a seasonally adjusted annual rate of $1,356.4 billion, which is 2.1% lower than April’s revised estimate.  However, May’s figure was 0.3% higher than May, 2019.  Residential construction was at a seasonally adjusted annual rate of $535.9 billion in May, which is 4% lower than April’s revised estimate.

Click here to read the full report at the U.S. Census Bureau.

 

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Director of Education & Outreach, National Real Estate Investors Association

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