May construction spending down 0.4%, but 6% above May 2005

Construction spending in U.S. during May 2006 was estimated at a seasonally adjusted annual rate of $1,206.2 billion, 0.4% below the revised April estimate of $1,210.5 billion, according to U.S. Census Bureau of the Department of Commerce announced today that. The May figure is 6.0% above the May 2005 estimate of $1,137.5 billion.

During the first 5 months of this year, construction spending amounted to $457.4 billion, 8.6% above the $421.1 billion for the same period in 2005

Spending on private construction was at a seasonally adjusted annual rate of $939.4 billion, 0.6% below the revised April estimate. Residential construction was at a seasonally adjusted annual rate of $651.2 billion in May, 0.8% below the revised April estimate. Nonresidential construction was at a seasonally adjusted annual rate of $288.2 billion in May, 0.3% below the revised April estimate.

In May, the estimated seasonally adjusted annual rate of public construction spending was $266.8 billion, 0.7% above the revised April estimate of $265.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 0.5% above the revised April estimate of $68.8 billion. Highway construction was at a seasonally adjusted annual rate of $74.7 billion, 0.1% above the revised April estimate of $74.6 billion.

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