U.S. Construction Spending Falls in May

Total U.S. construction spending decreased 0.4 percent in May, according to monthly statistics released by the U.S. Commerce Department.

According to the Commerce Department’s report, the total revised estimate of $1.089 trillion for May 2008 is 6 percent below the figure for May 2007.

Private residential construction continued to decline, falling 1.6 percent in May. However, nonresidential activity increased 0.2 percent. Public construction also increased 0.4 percent.

More information is available at www.commerce.gov.