Construction spending during May 2020 was estimated at a seasonally adjusted annual rate of $1,356.4 billion, 2.1 percent below a significantly upward revised April estimate of $1,386.1 billion. The May figure is 0.3 percent above the May 2019 estimate of $1,352.9 billion. The decreases were centered on the private sector side (with residential off $22.4 billion and non-residential off roughly half that down $11.6 billion). During the first five months of this year, construction spending amounted to $543.2 billion, remaining a healthy 5.7 percent above the $513.7 billion for the same period in 2019.
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