Private construction dips in June while public rises
Private construction dips 0.5 percent; public rises 1.6 percent for month.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2015 was estimated at a seasonally adjusted annual rate of $1,064.6 billion, 0.1 percent (±1.5%)* above the revised May estimate of $1,063.5 billion. The June figure is 12.0 percent (±2.1%) above the June 2014 estimate of $950.3 billion.
During the first 6 months of this year, construction spending amounted to $482.7 billion, 8.0 percent (±1.5%) above the $446.8 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $766.4 billion, 0.5 percent (±0.8%)* below the revised May estimate of $770.0 billion.
Residential construction was at a seasonally adjusted annual rate of $371.6 billion in June, 0.4 percent (±1.3%)* above the revised May estimate of $370.0 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $394.8 billion in June, 1.3 percent (±0.8%) below the revised May estimate of $400.0 billion.
PUBLIC CONSTRUCTION
In June, the estimated seasonally adjusted annual rate of public construction spending was $298.2 billion, 1.6 percent (±2.6%)* above the revised May estimate of $293.5 billion.
Educational construction was at a seasonally adjusted annual rate of $67.2 billion, 0.2 percent (±5.1%)* above the revised May estimate of $67.1 billion.
Highway construction was at a seasonally adjusted annual rate of $90.9 billion, 1.2 percent (±6.3%)* above the revised May estimate of $89.8 billion.
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