The 2020 Mid-Year Economic Update_long

Construction Spending Slows in May

Construction spending year-to-date is 12 percent below last year.

Construction spending in May 2010 was estimated at a seasonally adjusted annual rate of $841.9 billion, 0.2 percent below April, and 8 percent below May 2009.

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During the first five months of this year, construction spending was $314.2 billion, 12 percent below the same period in 2009.

Spending on private construction was at a seasonally adjusted annual rate of $536.3 billion, 0.5 percent below April. Residential construction was at a seasonally adjusted annual rate of $260.8 billion in May, 0.4 percent below April. Nonresidential construction was at a seasonally adjusted annual rate of $275.6 billion in May, 0.6 percent below April.

In May, the estimated seasonally adjusted annual rate of public construction spending was $305.5 billion, 0.4 percent above April. Educational construction was at a seasonally adjusted annual rate of $74.0 billion, 0.9 percent below April. Highway construction was at a seasonally adjusted annual rate of $83.1 billion, 2.7 percent above April.

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