U.S. construction spending dips 1.3 percent in June
Private construction trends flat as public construction slides 5.4 percent for month.
The U.S. Census Bureau announced the following value put in place construction
statistics for June 2017:
Total Construction
Construction spending during June 2017 was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3 percent (±1.5 percent)* below the revised May estimate of $1,221.6 billion. The June figure is 1.6 percent (±1.8 percent)* above the June 2016 estimate of $1,186.4 billion. During the first 6 months of this year, construction spending amounted to $577.0 billion, 4.8 percent (±1.3 percent) above the $550.5 billion for the same period in 2016.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $940.7 billion, 0.1 percent (± 1.2 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 (±1.3 percent)* below the revised May estimate of $504.0 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $437.8 billion in June, 0.1 percent (± 1.2 percent)* above the revised May estimate of $437.3 billion.
Public Construction
In June, the estimated seasonally adjusted annual rate of public construction spending was $265.1 billion, 5.4 percent (±2.6 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 (±3.9 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 (±6.7 percent)* below the revised May estimate of $88.2 billion.
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