Construction spending fell off a bit in
May, however residential construction remains the strongest sector, accounting
for more than half the annualized private sector expenditures for the month. Total
construction dollars spent during the month were at a seasonally adjusted
annual rate of $1.545 trillion, down 0.3 percent from April but 7.5 percent
higher than the prior May. On a non-adjusted basis, spending totaled
$131.964 billion compared to $126.509 billion the previous month. For the
year-to-date (YTD) spending has totaled $594.810 billion, up from $568.480
billion thus far in 2020, a 4.6 percent gain.

 

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