Construction Spending Figures Announced

On July 1, the U.S. Census Bureau of the Department of Commerce released its May 2015 construction spending figures, and overall, the news is positive.  Construction spending (seasonally adjusted annual rate) in May 2015 was estimated at $1,035.8 billion, up from $1,027 billion in April 2015.  The spending estimate in May 2015 was also above the spending estimate in May 2014 by $78.2 billion or slightly over 8%.

Actual spending for the first five months of 2015 was $382.1 billion, which compares favorably to the spending for the first five months of 2014, which was $360.8 billion, an almost 6% increase.

Private and public construction both contributed to the estimated annual spending in May 2015, with private construction increasing $6.8 billion, or 0.9 percent and public construction increasing $1.9 billion, or 0.7%.  Leading the increase for private construction was nonresidential construction and specifically manufacturing, which increased $5.2 billion from April to May.  Highway construction was the leading driver of the increase in public construction, increasing $1.7 billion from April to May.

June 2015 results and estimates are scheduled for release in early August.

Read the Our Thoughts On blog for other construction industry articles and visit our Construction Industry Group Services page to learn more about the services that we offer.

our thoughts on

array(1) { [0]=> string(2) "22" }
Revenue Recognition Standard finally effective for nonpublic companies. Are you ready or still in denial?
Good News Regarding Excess Business Losses For Your Pass-Through Construction Business
The Future of Construction
Higher Education and Construction; Does Building Green Still Matter?
Is Your Construction Company Eligible for a Credit for Wages Paid under FMLA?
Construction BY Tim Martin
2018 Construction Spending Update

Register to receive our weekly newsletter with our most recent columns and insights.

Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us

contact us

Map of Pittsburgh Office
Pittsburgh

One PPG Place, Suite 1700
Pittsburgh, PA 15222

contactsd@schneiderdowns.com
p:412.261.3644     f:412.261.4876

Map of Columbus Office
Columbus

65 East State Street, Suite 2000
Columbus, OH 43215

contactsd@schneiderdowns.com
p:614.621.4060     f:614.621.4062