Construction Spending Benchmark Revisions Were Net-Neutral, but
Patterns of Activity Shifted to Show a More-Negative Current Economic Trend

May 2018 Inflation-Adjusted (Real) Construction Spending
Held Shy of Its Pre-Recession Peak by 19.8% (-19.8%);
Pre-Benchmarking, April 2018 Previously Had Been Down by 19.4% (-19.4%)

Revisions Flattened Out the Level of
Inflation-Adjusted (Real) Construction Spending of Recent Years

Recent Large Spikes to Annual Growth in Real Spending Revised Away;
Year-to-Year Change Has Resumed Its Downtrending Flat-to-Minus Pattern