May 2017 Construction Spending Holds Steady

July 5, 2017
May 2017 Construction Spending Holds Steady

Total Construction spending during May 2017 was estimated at a seasonally adjusted annual rate of $1,230.1 billion, nearly the same as the revised April estimate of $1,230.4 billion.

The May figure is 4.5 percent above the May 2016 estimate of $1,177.0 billion. During the first 5 months of this year, construction spending amounted to $469.2 billion, 6.1 percent above the $442.4 billion for the same period in 2016.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $ 943.2 billion, 0.6 percent below the revised April estimate of $949.3 billion.

Residential construction was at a seasonally adjusted annual rate of $509.6 billion in May, 0.6 percent below the revised April estimate of $512.7 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $433.6 billion in May , 0.7 percent below the revised April estimate of $436.7 billion.

Private Construction Nonresidential Leaders:

  • Office - $63,732 - up 15.9 percent
  • Commercial - $79,391 - up 9.4 percent

Public Construction

In May , the estimated seasonally adjusted annual rate of public construction spending was $286.9 billion, 2.1 percent above the revised April estimate of $281.0 billion.

Educational construction was at a seasonally adjusted annual rate of $74.3 billion, 5.1 percent above the revised April estimate of $70.7 billion.

Highway construction was at a seasonally adjusted annual rate of $90.6 billion, 0.9 percent below the revised April estimate of $91.5 billion

Public Construction Nonresidential Leaders:

  • Healthcare - $9,876 - up 19.1 percent
  • Educational - $74,254 - up 7.7 percent

The U.S. Census Bureau July 3, 2017 complete report here:

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