The U.S. Census Bureau is reporting that total construction spending in May was estimated at a seasonally adjusted annual rate of $1.3 trillion, which is 0.4% above April’s revised estimate. During the first five months of 2018, construction spending amounted to $497.1 billion, which was 4.3% higher than the same period in 2017. In addition, residential construction was at a seasonally adjusted annual rate of $553.8 billion in May (0.8% higher than April) and nonresidential construction was at a seasonally adjusted annual rate of $451.5 billion in May (0.3% higher than April).
Click here to read the full report on Census.gov.
