Construction Spending Down 1.3% in June

Washington, DC, August 1, 2019-Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3% below the revised May estimate of $1,303.4 billion, according to the U.S. Census Bureau.

The June figure is 2.1% below the June 2018 estimate of $1,314.8 billion. During the first six months of this year, construction spending amounted to $615.8 billion, 0.5% below the $619.0 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $962.9 billion, 0.4% below the revised May estimate of $967.0 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in June, 0.5% below the revised May estimate of $509.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.7 billion in June, 0.3% below the revised May estimate of $457.3 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $324.1 billion, 3.7% below the revised May estimate of $336.4 billion. Educational construction was at a seasonally adjusted annual rate of $73.0 billion, 6.8% below the revised May estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $101.9 billion, 6.4% below the revised May estimate of $108.9 billion.