Construction spending in the United States dropped by 0.1% in May compared to April's revised figure, amounting to $2,139.8 billion, the US Census Bureau said on Monday. Year-on-year, construction spending was up by 6.4%. During the first five months of 2024, construction spending stood at $836.3 billion, jumping 8.8% compared to the same timeframe in 2023. Spending on private construction came in at $1,652.1 billion in May, dropping by 0.3% on a monthly basis, with residential construction down by 0.2% and nonresidential construction spending falling 0.3% month-on-month. Meanwhile, public construction spending in ... (full story)