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July 04, 2022US CONSTRUCTION SPENDING, MAY 2022 Month over month (May 2022 vs 2022 April, seasonally adjusted annual rate)
US construction spending decreased 0.1% to $1,779.8 billion. This follows a revised increase of 0.8% reported in April 2022, when construction spending totaled $1,782.5 billion. Total residential construction increased 0.2% to $947.3 billion. Total non-residential construction spending decreased 0.6% to $832.5 billion.
Private sector construction increased 0.01% to $1,436.0 billion. Private residential construction increased 0.2% to $938.2 billion, while private non-residential construction spending decreased 0.4% to $497.8 billion.
Public sector construction decreased 0.8% to $343.8 billion. Public residential construction decreased 0.7% to $9.1 billion, while public non-residential construction spending decreased 0.8% to $334.7 billion.
Year-to-date (Jan-May 2022 vs Jan-May 2021)
US construction spending was up 10.3%
- Total residential construction was up 20.5%
- Total non-residential construction was up 1.0%
- Private sector construction was up 14.2%
- Public sector construction was down 3.0%
Source: US Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis
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