The 2020 Mid-Year Economic Update_long

June Construction Spending Up 1.6% Year-Over-Year

Construction spending down 1.3 percent from May.

June construction spending was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3 percent below the revised May estimate of $1,221.6 billion, according to the U.S. Census Bureau of the Department of Commerce. The June figure is 1.6 percent above the June 2016 estimate of $1,186.4 billion.

Year to date, construction spending was $577 billion, 4.8 percent above the $550.5 billion for the same period in 2016.

In June, spending on private construction was at a seasonally adjusted annual rate of $940.7 billion, 0.1 percent below the revised May estimate of $941.3 billion. Residential construction was at a seasonally adjusted annual rate of $502.9 billion in June, 0.2 percent below the revised May estimate of $504 billion. Nonresidential construction was at a seasonally adjusted annual rate of $437.8 billion in June, 0.1 percent above the revised May estimate of $437.3 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $265.1 billion, 5.4 percent below the revised May estimate of $280.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.5 billion, 5.5 percent below the revised May estimate of $71.4 billion. Highway construction was at a seasonally adjusted annual rate of $82.4 billion, 6.6 percent below the revised May estimate of $88.2 billion.

 

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