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Construction Spending Annual Rates for June 2016

By August 1, 2016 November 19th, 2019 Construction Law

According to the U.S. Census Bureau of the Department of Commerce, total construction spending for June 2016 was estimated at a seasonally adjusted annual rate of $1,133.5 billion, down 0.6 percent from the revised May estimate of $1,140.9 billion.  Compared to a year ago, the June rate is up 0.3 percent from that of the June 2015 rate, which was estimated at $1,130.5 billion.  For the first half of 2016, construction spending has totaled $539.8 billion, an increase of 6.2 percent compared to the $508.1 billion for the first six months of 2015.

Private construction spending in June was estimated at a seasonally adjusted annual rate of $851.0 billion, a decrease of 0.6 percent from May’s revised estimate of $856.6 billion.  Residential construction spending for June was at a seasonally adjusted annual rate of $445.8 billion, remaining nearly identical to the previous month’s revised estimate of $445.9 billion.  Nonresidential construction spending for June was estimated at $405.2 billion, down 1.3 percent from May’s revised estimate of $410.7 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $282.5 billion, down 0.6 percent from May’s revised estimate of $284.3 billion.  Educational construction spending for June was at an adjusted rate of $67.5 billion, down 0.5 percent from the revised May estimate of $67.8 billion.  Highway construction spending was estimated at an adjusted rate of $88.0 billion for June, decreasing by 1.4 percent from May’s revised estimate of $89.2 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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