Construction Spending Inched Up 0.1% in June

Washington, DC, August 2, 2021-Construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, 0.1% above the revised May estimate of $1,551.2 billion, according to the U.S. Census Bureau.

The June figure is 8.2% above the June 2020 estimate of $1,435.0 billion. During the first six months of this year, construction spending amounted to $736.5 billion, 5.4% above the $698.8 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,215.2 billion, 0.4% above the revised May estimate of $1,210.3 billion. Residential construction was at a seasonally adjusted annual rate of $763.4 billion in June, 1.1% above the revised May estimate of $755.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $451.8 billion in June, 0.7% below the revised May estimate of $454.9 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $337.0 billion, 1.2% below the revised May estimate of $340.9 billion. Educational construction was at a seasonally adjusted annual rate of $81.3 billion, 0.8% below the revised May estimate of $82.0 billion. Highway construction was at a seasonally adjusted annual rate of $92.4 billion, 5.3% below the revised May estimate of $97.5 billion.