real construction

Real Construction on Track to Add 1.24 Percentage Points to 2nd Quarter GDP

In the report on May construction spending (pdf), the Census Bureau estimated that our seasonally adjusted construction spending would work out to $1,035.8 billion annually if extrapolated over an entire year, which was 0.8 percent (±1.5%)* above the revised estimate of a $1,027.0 billion annual rate in April and 8.2 percent (±2.0%) above the estimated adjusted and annualized level of construction spending of May last year