Construction spending in May 2014 was estimated at a seasonally adjusted annual rate of $956.1 billion, 0.1 percent above April and 6.6 percent above May 2013, according to the U.S. Census Bureau.
In the first five months of this year, construction spending was $358.1 billion, 8.2 percent above the same period in 2013.
Spending on private construction was at a seasonally adjusted annual rate of $682.8 billion, slightly below the April estimate. Residential construction was at a seasonally adjusted annual rate of $354.8 billion in May, 1.5 percent below April. Nonresidential construction was at a seasonally adjusted annual rate of $328 billion in May, 1.1 percent above April.
In May, the estimated seasonally adjusted annual rate of public construction spending was $273.3 billion, 1 percent above April. Educational construction was at a seasonally adjusted annual rate of $62 billion, 0.6 percent below April. Highway construction was at a seasonally adjusted annual rate of $82.7 billion, 0.7 percent above April.
