U.S. Construction Spending Down in June
U.S. construction spending during June was estimated at a seasonally adjusted annual rate of $1.32 trillion, falling 1.1% from May but 6.1% higher than the year ago period. Year-to-date spending rose 5.1% from the first six months of 2017 to $619.9 billion.
Private construction spending dipped 0.4% from May to a seasonally adjusted annual rate of $1.02 trillion but was up 6.6% from the year ago period. Residential levels were down 0.5% from May to $568.3 billion but rose 8.8% from June 2017. Non-residential totals decreased 0.3% from May to $451.5 billion but were 3.7% higher than the same period in 2017. See U.S. Census Bureau