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Construction Spending Showing Promise

Friday, July 10, 2020   /   by Erik Bjorklund

Construction Spending Showing Promise

Despite any impact
from the COVID-19 pandemic, construction spending is still largely managing to
stay ahead of its 2019 levels
. The U.S. Census Bureau said total spending in
May was at a seasonally adjusted annual rate of  $1.356 trillion, down 2.1 percent from April's
$1.386 trillion rate. The April rate was revised significantly higher from the
$1.346 trillion originally reported. On an annual basis, spending was 0.3
percent above the level in May of 2019.

On a non-adjusted
basis, total spending was $116.215 billion compared to $112.912 billion in
April. For the year-to-date (YTD) spending is up 5.7 percent over the same period
last year at $543.181 billion compared to $513.705 billion. Unadjusted spending
has increased each month this year after starting at $101.121 billion in

...(read more)

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