The US Census Bureau of the Department of Commerce announced that construction spending during May 2012 was estimated at a seasonally adjusted annual rate of USD 830.0 billion, up by 0.9% MoM from April estimate of USD 822.5 billion.
The May 2012 figure is 7% YoY above the May 2011 estimate of USD 775.8 billion. During the first five months of 2012, construction spending amounted to USD 310.5 billion, 9.4% YoY above the USD 283.8 billion for the same period in 2011.
Spending on private construction was at a seasonally adjusted annual rate of USD 560.4 billion, 1.6% YoY above the revised April 2012 estimate of USD 551.8 billion. Residential construction was at a seasonally adjusted annual rate of USD 261.3 billion in May 2012, 3% MoM above the revised April 2012 estimate of USD 253.8 billion.
Non residential construction was at a seasonally adjusted annual rate of USD 299.1 billion in May 2012, 0.4% MoM above the revised April 2012 estimate of USD 298 billion. In May 2012, the estimated seasonally adjusted annual rate of public construction spending was USD 269.6 billion, 0.4% MoM below the revised April estimate of USD 270.7 billion.
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