Latest from Construction Project Data
Total Construction Spending Stays Steady with +2.4% YOY Increase to $1,925.6 Billion
Private construction
Spending on private construction was at a seasonally adjusted annual rate of $1,513.2 billion, +1.1% above the revised April estimate of $1,497.2 billion. Residential construction was at a seasonally adjusted annual rate of $857.4 billion in May, +2.2% above the revised April estimate of $839.4 billion. Multi-family construction was up +20.4% year-over-year (YOY) to $127.7 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $655.8 billion in May, -0.3% below the revised April estimate of $657.8 billion.
The Private Manufacturing category continues its torrid pace this year and registered a +76.9% YOY gain to $193.9 billion. The leading sub-category was once again Computer/electronic/electrical, up +234.5% to $112.4 billion in May.
Public construction
In May, the estimated seasonally adjusted annual rate of public construction spending was $412.4 billion, +0.1% above the revised April estimate of $411.8 billion. Educational construction was at a seasonally adjusted annual rate of $87.7 billion, virtually unchanged from the revised April estimate of $87.7 billion.