Construction Spending Fell 1.3% in June

Construction spending slowed in June, landing at a seasonally adjusted annual level (SAAL) of $1,205.8 billion, according to the Census Bureau. May’s spending estimate was revised to a rate of $1,221.6 billion. June’s figure is 1.6% greater than the June 2016 estimate of $1,186.4 billion.

Total private construction was $940.7 billion SAAL, a 0.1% decrease from the revised May estimate of $941.3 billion. Total private construction is 5.3% higher than the June 2016 figure.

Private residential construction was $502.9 billion SAAL, 0.2% below May’s downwardly revised rate. June’s figure is 9.2% greater than its June 2016 estimate.

Private nonresidential construction was $437.8 billion, 0.1% above May’s upwardly revised estimate. June’s estimate is 1.1% greater than the June 2016 figure.

Public construction decreased 5.4% to $265.1 billion SAAL. June’s figure is 9.5% below the June 2016 estimate.

Read the Census release.