Construction Dips Slightly in May as Commercial Construction Still Sagging YTY

The U.S. Census Bureau of the Department of Commerce announced that construction spending during May 2010 was estimated at a seasonally adjusted annual rate of $841.9 billion, 0.2 percent below the revised April estimate of $843.3 billion. The May figure is 8 percent below the May 2009 estimate of $915.4 billion. During the first 5 months of this year, construction spending amounted to $314.2 billion, 12 percent below the $356.9 billion for the same period in 2009.

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