Construction Spending Rate Fell 1.1 percent in June

Construction spending decreased 1.1 percent at a seasonally adjusted annual level (SAAL) of $1,317.2 billion, in June, according to the Census Bureau. May’s spending estimate was upwardly revised to $1,332.2 billion. June’s figure is 6.1 percent greater than the June 2017 estimate of $1,241.3 billion.

Total private construction was $1,019.8 billion SAAL, a 0.4 percent decrease from the revised May estimate of $1,023.9 billion. Total private construction is 6.5 percent higher than the June 2017 figure.

Private residential construction was $568.3 billion SAAL, 0.5 percent lower than May’s rate. June’s figure was 8.8 percent greater than its June 2017 estimate.

Private nonresidential construction was $451.5 billion SAAL, 0.3 percent below May’s estimate. June’s rate is 3.7 percent greater than the June 2017 figure.

Public construction fell 3.5 percent at $297.4 billion SAAL. June’s figure is 4.9 percent above the June 2017 estimate.

Read the Census release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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