According to a report from the U.S. government, total construction spending in May 2024 reached a seasonally adjusted annual rate of $2,139.8 billion, marking a 0.1% decrease from the revised April figure. However, the revised estimate for May shows a 6.4% increase compared to the previous year. Residential construction was at a seasonally adjusted annual rate of $918.2 billion in May, down 0.2% from April’s revised estimate.
For more details, you can access the full report from the U.S. Census Bureau by clicking here.
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