The WPJ
Commercial Real Estate News
U.S. Commercial, Government and Residential Annual Construction Spend Rate at $753.5 Billion in May
Based on new figures from the U.S. Census Bureau of the Department of Commerce, construction spending during May 2011 was estimated at a seasonally adjusted annual rate of $753.5 billion, 0.6 percent (±1.6%) below the revised April estimate of $757.9 billion. The May figure is 7.1 percent (±1.8%) below the May 2010 estimate of $811.2 billion.
During the first 5 months of this year, construction spending amounted to $285.1 billion, 6.3 percent (±1.4%) below the $304.4 billion for the same period in 2010.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $477.2 billion, 0.4 percent (±1.4%) below the revised April estimate of $479.3 billion.
Residential construction was at a seasonally adjusted annual rate of $228.9 billion in May, 2.1 percent (±1.3%) below the revised April estimate of $233.8 billion.
Nonresidential (Commercial) construction was at a seasonally adjusted annual rate of $248.3 billion in May, 1.2 percent (±1.4%) above the revised April estimate of $245.4 billion.
Public Construction
In May, the estimated seasonally adjusted annual rate of public construction spending was $276.3 billion, 0.8 percent (±2.2%) below the revised April estimate of $278.6 billion. Educational construction was at a seasonally adjusted annual rate of $68.6 billion, 2.3 percent (±3.0%) below the revised April estimate of $70.2 billion. Highway construction was at a seasonally adjusted annual rate of $74.7 billion, 1.5 percent (±7.5%) below the revised April estimate of $75.9 billion.
Real Estate Listings Showcase
This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More