by Calculated Risk on 7/01/2025 02:46:00 PM

From the Census Bureau reported that overall construction spending decreased:

Construction spending during May 2025 was estimated at a seasonally adjusted annual rate of $2,138.2 billion, 0.3 percent below the revised April estimate of $2,145.5 billion. The May figure is 3.5 percent below the May 2024 estimate of $2,215.4 billion.
emphasis addedPrivate spending decreased and public spending increased slightly:
Spending on private construction was at a seasonally adjusted annual rate of $1,626.6 billion, 0.5 percent below the revised April estimate of $1,634.2 billion. …

In May, the estimated seasonally adjusted annual rate of public construction spending was $511.6 billion, 0.1 percent above the revised April estimate of $511.3 billion.

Click on graph for larger image.

This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.

Private residential (red) spending is 9.2% below

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