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Home » Construction Spending Down Slightly in May

Construction Spending Down Slightly in May

By    MDM  Staff 
July 6, 2009
More about:  Building Materials/Construction,  Economy

Construction spending in May 2009 was estimated at a seasonally adjusted annual rate of $964.0 billion, 0.9 percent below the revised April estimate of $972.5 billion, according to the U.S. Census Bureau of the Department of Commerce. The May figure is 11.6 percent below the May 2008 estimate of $1,090.7 billion.

During the first five months of this year, construction spending amounted to $368.8 billion, 11.7 percent below the $417.5 billion for the same period in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $649.2 billion, 1.0 percent below the revised April estimate of $655.6 billion. Residential construction was at a seasonally adjusted annual rate of $240.2 billion in May, 3.4 percent below the revised April estimate of $248.8 billion. ...

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Construction spending in May 2009 was estimated at a seasonally adjusted annual rate of $964.0 billion, 0.9 percent below the revised April estimate of $972.5 billion, according to the U.S. Census Bureau of the Department of Commerce. The May figure is 11.6 percent below the May 2008 estimate of $1,090.7 billion.

During the first five months of this year, construction spending amounted to $368.8 billion, 11.7 percent below the $417.5 billion for the same period in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $649.2 billion, 1.0 percent below the revised April estimate of $655.6 billion. Residential construction was at a seasonally adjusted annual rate of $240.2 billion in May, 3.4 percent below the revised April estimate of $248.8 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $409.0 billion in May, 0.5 percent above the revised April estimate of $406.9 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $314.9 billion, 0.6 percent below the revised April estimate of $316.9 billion. Educational construction was at a seasonally adjusted annual rate of $91.3 billion, 0.5 percent above the revised April estimate of $90.8 billion. Highway construction was at a seasonally adjusted annual rate of $78.5 billion, 1.3 percent below the revised April estimate of $79.5 billion.

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