Construction Spending Fell 1.3% in June

Washington, DC, August 1, 2017-Construction spending during June 2017 was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3% below the revised May estimate of $1,221.6 billion, says the U.S. Census Bureau.

The June figure is 1.6% above the June 2016 estimate of $1,186.4 billion. During the first six months of this year, construction spending amounted to $577.0 billion, 4.8% above the $550.5 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $940.7 billion, 0.1% below the revised May estimate of $941.3 billion. Residential construction was at a seasonally adjusted annual rate of $502.9 billion in June, 0.2% below the revised May estimate of $504.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $437.8 billion in June, 0.1% above the revised May estimate of $437.3 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $265.1 billion, 5.4% below the revised May estimate of $280.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.5 billion, 5.5% below the revised May estimate of $71.4 billion. Highway construction was at a seasonally adjusted annual rate of $82.4 billion, 6.6% below the revised May estimate of $88.2 billion.