Outlays for construction projects in the US fell -2.1% in May at a seasonally adjusted annual rate of US$1.36 trillion, the Commerce Department reported Wednesday.
Residential construction fell -3.9% in May, while spending on public construction projects rose +1.2%.
Spending in April was revised to a -3.5% fall from the prior estimate of a -2.9% drop.
Spending on private construction was at a seasonally adjusted annual rate of US$1,001 billion, -3.3% below the revised April estimate of US$1,035 billion.
Residential construction was at a seasonally adjusted annual rate of US$536 billion in May, -4% below the revised April estimate of US$558 billion.
Nonresidential construction was at a seasonally adjusted annual rate of US$465 billion in May, -2.4% below the revised April estimate of US$477 billion.