Construction Spending increased 0.8% in May

Earlier today, the Census Bureau reported that overall construction spending increased in May: The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2015 was estimated at a seasonally adjusted annual rate of $1,035.8 billion, 0.8 percent above the revised April estimate of $1,027.0 billion. The May figure is 8.2 percent above the May 2014 estimate of $957.6 billion. Both Private and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $752.4 billion, 0.9 percent above the revised April......(read more)

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