The US Census Bureau announced today that 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.
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.
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.