The U.S. Census Bureau announced the following value put in place construction statistics for May 2024: Total Construction – Construction spending during May 2024 was estimated at a seasonally adjusted annual rate of $2,139.8 billion, 0.1 percent (±1.0 percent)* below the revised April estimate of $2,142.1 billion. The May figure is 6.4 percent (±1.6 percent) above the May 2023 estimate of $2,011.8 billion. During the first five months of this year, construction spending amounted to $836.3 billion, 8.8 percent (±1.2 percent) above the $768.6 billion for the same period in 2023.cPrivate Construction – Spending on private construction was at a seasonally adjusted annual rate of $1,652.1 billion, 0.3 percent (±0.7 percent)* below the revised April estimate of $1,656.7 billion. Residential construction was at a seasonally adjusted annual rate of $918.2 billion in May, 0.2 percent (±1.3 percent)* below the revised April estimate of $920.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $733.9 billion in May, 0.3 percent (±0.7 percent)* below the revised April estimate of $736.5 billion. Public Construction – In May, the estimated seasonally adjusted annual rate of public construction spending was $487.6 billion, 0.5 percent (±1.8 percent)* above the revised April estimate of $485.4 billion. Educational construction was at a seasonally adjusted annual rate of $102.1 billion, 0.6 percent (±2.5 percent)* above the revised April estimate of $101.5 billion. Highway construction was at a seasonally adjusted annual rate of $147.6 billion, 0.5 percent (±5.3 percent)* below the revised April estimate of $148.3 billion.
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com