The Department of Commerce announced that construction spending during May was estimated at a seasonally adjusted annual rate of $830 billion, 0.9% above the revised April estimate of $822.5 billion, according to the Department of Commerce. The May figure is 7% above the May 2011 estimate of $775.8 billion. During the first five months of this year, construction spending hit $310.5 billion, 9.4 percent above the $283.8 billion for the same period in 2011.
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