7/1/2022, 4:00 PM (Source: TeleTrader)
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Construction spending down 0.1% in US in May

Construction spending in the United States amounted to $1.78 trillion in May, decreasing 0.1% compared to the previous month's revised figure, the US Census Bureau said in a report on Friday. On an annual basis, the number was 9.7% higher.

During the first five months of 2022, construction spending stood at $686.9 billion, rising 11% in comparison to the corresponding time span in 2021.

Private construction spending was unchanged month on month in May, amounting to $1.44 trillion, while public construction spending was $343.8 billion, 0.8% lower on a monthly basis.

Baha Breaking News (BBN) / MS