Construction spending during May 2022 was estimated at a seasonally adjusted annual rate of $1,779.8 billion, 0.1% below the revised April estimate of $1,782.5 billion, according to the U.S. Census Bureau. The May figure is 9.7% above the May 2021 estimate of $1,621.9 billion. During the first five months of this year, construction spending amounted to $686.9 billion, 11.0% above the $619.0 billion for the same period in 2021. Spending on private construction was at a seasonally adjusted annual rate of $1,436.0 billion, virtually unchanged from the revised April estimate of $1,435.9 billion. Residential construction ... (full story)