Posted July 1, 2010
Construction spending fell in May
Construction spending edged lower by 0.2 percent in May to a seasonally adjusted annual rate of $841.9 billion, the Dept. of Commerce announced today.
The May figure is 8.0 percent below the May 2009 estimate of $915.4 billion.
During the first five months of this year, construction spending amounted to $314.2 billion, 12.0 percent below the $356.9 billion for the same period in 2009.
Private construction spending was at a seasonally adjusted annual rate of $536.3 billion, 0.5 percent below the April estimate of $538.9 billion. Public construction spending was $305.5 billion, 0.4 percent above the revised April estimate of $304.4 billion.
