Construction Spending Down in June, But Up 6.2% YOY for First 6 Months

Washington, DC, August 1, 2016—Construction spending during June 2016 was estimated at a seasonally adjusted annual rate of $1,133.5 billion, 0.6% below the revised May estimate of $1,140.9 billion, the U.S. Census Bureau of the Department of Commerce announced.

The June figure is 0.3% above the June 2015 estimate of $1,130.5 billion.

During the first six months of this year, construction spending amounted to $539.8 billion, 6.2% above the $508.1 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $851.0 billion, 0.6% below the revised May estimate of $856.6 billion. Residential construction was at a seasonally adjusted annual rate of $445.8 billion in June, nearly the same as the revised May estimate of $445.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $405.2 billion in June, 1.3% below the revised May estimate of $410.7 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $282.5 billion, 0.6% below the revised May estimate of $284.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.5 billion, 0.5% below the revised May estimate of $67.8 billion. Highway construction was at a seasonally adjusted annual rate of $88.0 billion, 1.4% below the revised May estimate of $89.2 billion.