Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $605.4 billion in May, nearly the same as the upwardly revised April estimate of $605.7 billion. May’s results are 10.6 percent higher year-over-year. Residential construction spending rose 1.3 percent over the month, to $322.3 billion. New multifamily construction spending rose 2.5 percent in May and is up 51.7 percent year-over-year. New single-family construction posted a monthly gain of 0.4 percent and is up 33.2 percent since last May. Private nonresidential construction spending was at $283.1 billion, 1.4 percent below the downwardly revised April estimate of $287.1 billion. The manufacturing and communications sectors registered the largest month-to-month declines of 8.1 and 6.3 percent, respectively. The religious and amusement and recreation sectors saw the largest monthly increases of 7.1 and 2.2 percent, respectively.