May 2006 construction spending was estimated at a seasonally adjusted annual rate of $1,206.2 billion, 0.4% below the revised April estimate of $1,210.5 billion. The May figure is 6% above the May 2005 estimate of $1,137.5 billion.

 

During the first five months of the year, construction spending was $457.4 billion, 8.6% above the $421.1 billion for the same period in 2005.

 

Spending in private construction was at a seasonally adjusted annual rate of $939.4 billion, 0.6% below the revised April estimate. Residential construction was at an annual rate of $651.2 billion in May, 0.8% below the revised April estimate. Nonresidential construction was at an annual rate of $288.2 billion in May, 0.3% below the revised April estimate of $289 billion.

 

In May, public construction spending was at an annual rate of $266.8 billion, 0.7% above the revised April estimate. Educational construction was at an annual rate of $69.1 billion, 0.5% above the revised April estimate. Highway construction was at an annual rate of $74.7 billion, 0.1% above the revised April estimate.

 

For more details on May 2006 construction spending, click here.

For economic indicators updated monthly by MDM, click here.