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.
