Construction Spending Down in May; Up Year-Over-Year

The U.S. Census Bureau of the Department of Commerce announced that construction spending during May 2016 was estimated at a seasonally adjusted annual rate of $1,143.3 billion, 0.8 percent (±1.3 percent) below the revised April estimate of $1,152.4 billion. The May figure is 2.8 percent (±1.6 percent) above the May 2015 estimate of $1,112.2 billion.

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