The dollar value of new construction put-in-place showed renewed strength during April and May following 2012's weak first quarter, according to the seasonally adjusted annual data released by the U.S. Dept. of Commerce. In May, construction was running at a seasonally adjusted annual rate of $830 billion, up 0.9% from April's annual pace and 7% above May 2011 's pace, according to Commerce (see chart). On a year-to-date basis, total new construction put-in-place through the first five months of this year was $310 billion, which was 9.4% above the same period a year ago.
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