U.S. Construction Spending Edges Up

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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.

 

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Director of Education & Outreach, National Real Estate Investors Association

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