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Construction Spending Annual Rates for June 2014

By August 1, 2014 November 19th, 2019 Construction Law

According to the U.S. Census Bureau of the Department of Commerce, total construction spending for June 2014 was estimated at a seasonally adjusted annual rate of $950.2 billion, dropping by 1.8 percent from the revised May estimate of $967.8 billion.  Compared to a year ago, the June rate is up 5.5 percent from that of the June 2013 rate, which was estimated at $900.3 billion.  For the first half of 2014, construction spending has totaled $445.1 billion, an increase of 7.8 percent compared to the $413.0 billion for the first six months of 2013.

Private construction spending in June was estimated at a seasonally adjusted annual rate of $685.5 billion, a decrease of 1.0 percent from May’s revised estimate of $692.0 billion.  Residential construction spending for June was at a seasonally adjusted annual rate of $355.9 billion, dropping 0.3 percent below the previous month’s revised estimate of $357.0 billion.  Nonresidential construction spending for June was estimated at $329.5 billion, down 1.6 percent from May’s revised estimate of $335.0 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $264.7 billion, down 4.0 percent from May’s revised estimate of $275.7 billion.  Educational construction spending for June was at an adjusted rate of $59.7 billion, down 4.9 percent from the revised May estimate of $62.8 billion.  Highway construction spending was estimated at an adjusted rate of $75.3 billion for June, decreasing by 10.4 percent from May’s revised estimate of $84.0 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.

 

Eli Robbins

Author Eli Robbins

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