According to the U.S. Census Bureau of the Department of Commerce, construction spending for June 2013 was estimated at a seasonally adjusted annual rate of $883.9 billion. This rate is down 0.6 percent from the revised May estimate of $889.4 billion. However, when compared to last year, the spending rate is up 3.3 percent from the June 2012 estimate of $855.8 billion. Construction spending totaled to $408.5 billion for the first half of 2013, which is 5.1 percent above the $388.8 billion for the same period in 2012.
Private construction spending was estimated at a seasonally adjusted annual rate of $622.8 billion, which is down 0.4 percent from May’s revised estimate of $625.4 billion. Residential construction spending remained nearly identical to the previous month, with the June figure dropping to an adjusted rate of $332.1 billion from the revised May estimate of $332.2 billion. Nonresidential construction spending for June was estimated at a seasonally adjusted annual rate of $290.8 billion, down 0.9 percent from the revised May estimate of $293.3 billion.
As for public construction spending, the estimated seasonally adjusted annual rate for June was $261.1 billion, down 1.1 percent from the revised May estimate of $264.0 billion. Educational construction spending was at an adjusted rate of $59.9 billion, down 0.4 percent from May’s revised estimate of $60.2 billion. Highway construction spending was estimated at a seasonally adjusted annual rate of $75.0 billion, down 2.8 percent from the revised May estimate of $77.1 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
