The US Census Bureau announced that construction spending during June 2020 was estimated at a seasonally adjusted annual rate of $1,355.2 billion, 0.7 percent (±1.2 percent) below the revised May estimate of $1,364.7 billion. The June figure is 0.1 percent (±1.5 percent) above the June 2019 estimate of $1,354.1 billion.
During the first six months of 2020, construction spending amounted to $667.9 billion, 5.0 percent (±1.2 percent) above the $636.0 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,001.9 billion, 0.7 percent (±0.7 percent) below the revised May estimate of $1,009.0 billion. Residential construction was at a seasonally adjusted annual rate of $534.2 billion in June, 1.5 percent (±1.3 percent) below the revised May estimate of $542.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $467.7 billion in June, 0.2 percent (±0.7 percent) above the revised May estimate of $466.9 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $353.3 billion, 0.7 percent (±2.0 percent) below the revised May estimate of $355.8 billion. Educational construction was at a seasonally adjusted annual rate of $85.8 billion, 2.7 percent (±1.5 percent) below the revised May estimate of $88.2 billion. Highway construction was at a seasonally adjusted annual rate of $102.6 billion, 1.7 percent (±6.3 percent) below the revised May estimate of $104.4 billion.