Updated: 01-Jul-25 10:46 ET
| May Construction Spending |
 |
|
| Updated: 01-Jul-25 10:46 ET |
Highlights
- Total construction spending decreased 0.3% month-over-month in May (Briefing.com consensus -0.2%) after an upwardly revised 0.2% decline (from -0.4%) in April.
- Total private construction was down 0.5% month-over-month, while total public construction was up 0.1% month-over-month.
- On a year-over-year basis, total construction spending was down 3.5%.
Key Factors
- Total residential spending decreased 0.5% month-over-month, while nonresidential spending fell 0.2% month-over-month.
- In private construction, residential spending dropped 0.5%, with new single-family construction down 1.8% and multifamily construction unchanged. Nonresidential spending declined 0.4%, led by a 0.8% decline in commercial spending and a 0.6% decline in power spending.
- In public construction, nonresidential spending was flat month-over-month, with highway and street spending down 0.3%.
Big Picture
- The key takeaway from the report is the same as the prior month: a downturn in new single-family construction, which is being pressured by higher costs, was the driver behind the weakness in residential spending.
| Category | MAY | APR | MAR | FEB | JAN |
| Nominal (Current) Dollars | |||||
| Total Construction | -0.3% | -0.2% | -0.7% | -0.2% | -0.3% |
| Private | -0.5% | -0.5% | -1.1% | -0.2% | -0.6% |
| Residential | -0.5% | -0.5% | -1.2% | -0.4% | -1.8% |
| Nonresidential | -0.4% | -0.6% | -0.9% | 0.0% | 1.0% |
| Public | 0.1% | 0.6% | 0.6% | -0.2% | 0.4% |
|
|