www.supplyht.com/articles/91294-june-29-2007-construction-spending-increased-slightly-in-may
June 29, 2007 -Construction Spending Increased Slightly In May
June 29, 2007
The
U.S. Census Bureau of the Department of Commerce announced June 29 that
construction spending during May 2007 was estimated at a seasonally adjusted
annual rate of $1,176.6 billion (0.9 percent) above the revised April estimate
of $1,166.0 billion. However, the May figure is still 2.8 percent below last
year’s same-time figures.
The Bureau also reported that during the first five months of this year, construction spending amounted to $442.1 billion, 3.9 percent below the $460.1 billion for the same period in 2006.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $892.1 billion, 0.5 percent above April’s estimate.
Residential construction was at a seasonally adjusted annual rate of $549.0 billion in May (0.8 percent below April). Nonresidential construction was at a seasonally adjusted annual rate of $343.1 billion in May (2.7 percent above the previous month).