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May Construction Down 7.1 Percent Year-to-Year to $753.5 Billion Annual Rate

The Department of Commerce said construction spending during May was at an estimated seasonally adjusted annual rate of $753.5 billion, 0.6 percent below the revised April estimate of $757.9 billion. The May construction spending figure is 7.1 percent below the May 2010 estimate of $811.2 billion. During the first five months of this year, construction spending amounted to $285.1 billion, 6.3 percent below the $304.4 billion for the same period in 2010.

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