Construction Spending Fell 1.1% in June, But Rose 6.1% YOY

Washington, DC, August 1, 2018--Construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1% below the revised May estimate of $1,332.2 billion, according to the U.S. Census Bureau.

The June figure is 6.1% above the June 2017 estimate of $1,241.3 billion. During the first six months of this year, construction spending amounted to $619.9 billion, 5.1% above the $589.6 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $1,019.8 billion, 0.4% below the revised May estimate of $1,023.9 billion. Residential construction was at a seasonally adjusted annual rate of $568.3 billion in June, 0.5% below the revised May estimate of $570.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of

$451.5 billion in June, 0.3% below the revised May estimate of $453.0 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $297.4 billion, 3.5% below the revised May estimate of $308.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.9 billion, 11.0% below the revised May estimate of $76.3 billion. Highway construction was at a seasonally adjusted annual rate of $93.9 billion,

1.3% below the revised May estimate of $95.1 billion.