The US Census Bureau of the Department of Commerce announced today that construction spending during June 2016 was estimated at a seasonally adjusted annual rate of $1,133.5 billion, 0.6 percent (±1.3 percent) below the revised May estimate of $1,140.9 billion. The June figure is 0.3 percent (±1.6 percent) above the June 2015 estimate of $1,130.5 billion.
During the first 6 months of this year, construction spending amounted to $539.8 billion, 6.2 percent (±1.3 percent) above the $508.1 billion for the same period in 2015.
Spending on private construction was at a seasonally adjusted annual rate of $851.0 billion, 0.6 percent (±1.0 percent) below the revised May estimate of $856.6 billion. Residential construction was at a seasonally adjusted annual rate of $445.8 billion in June, nearly the same as (±1.3 percent) the revised May estimate of $445.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $405.2 billion in June, 1.3 percent (±1.0 percent) below the revised May estimate of $410.7 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $282.5 billion, 0.6 percent (±2.5 percent) below the revised May estimate of $284.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.5 billion, 0.5 percent (±5.8 percent) below the revised May estimate of $67.8 billion. Highway construction was at a seasonally adjusted annual rate of $88.0 billion, 1.4 percent (±5.4 percent) below the revised May estimate of $89.2 billion.