WASHINGTON — The U.S. Census Bureau of the Department of Commerce has announced that construction spending during May 2012 was estimated at a seasonally adjusted annual rate of $830 billion, 0.9 percent above the revised April estimate of $822.5 billion. The May 2012 figure is 7 percent above the May 2011 estimate of $775.8 billion.

Spending on private construction was at a seasonally adjusted annual rate of $560.4 billion, 1.6 percent above the revised April estimate of $551.8 billion. Residential construction was at a seasonally adjusted annual rate of $261.3 billion in May, 3 percent above the revised April estimate of $253.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $299.1 billion in May, 0.4 percent above the revised April estimate of $298.0 billion.

In May, the estimated seasonally adjusted annual rate of public construction spending was $269.6 billion, 0.4 percent below the revised April estimate of $270.7 billion. Educational construction was at a seasonally adjusted annual rate of $65.0 billion, 3 percent below the revised April estimate of $67 billion. Highway construction was at a seasonally adjusted annual rate of $78 billion, 0.5 percent below the revised April estimate of $78.4 billion.

Publication date: 7/9/2012