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July 02, 2024US CONSTRUCTION SPENDING, MAY 2024 Month over month (May 2024 vs April 2024), seasonally adjusted annual rate)
US construction spending decreased 0.1% to $2,139.8 billion.
- Total residential construction decreased 0.2% to $930.5 billion.
- Total non-residential construction spending decreased 0.1% to $1,209.3 billion.
- Private sector construction decreased 0.3% to $1,652.1 billion.
- Public sector construction increased 0.5% to $487.6 billion.
Private residential construction decreased 0.2% to $918.2 billion, while private non-residential construction spending decreased 0.3% to $733.9 billion.
Public residential construction increased 2.6% to $12.2 billion, while public non-residential construction spending increased 0.4% to $475.4 billion.
Year-to-date (January-May 2024 vs January-May 2023)
US construction spending increased 8.4%.
- Total residential construction increased 7.4%.
- Total non-residential construction spending increased 9.2%.
- Private sector construction increased 7.2%.
- Public sector construction increased 12.7%.
Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis
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