Annual U.S. Construction Spend Rate at $772.3 Billion in June

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According to the U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2011 was estimated at a seasonally adjusted annual rate of $772.3 billion, 0.2 percent (±1.8%) above the revised May estimate of $770.5 billion. The June figure is 4.7 percent (±1.8%) below the June 2010 estimate of $810.4 billion.

During the first 6 months of this year, construction spending amounted to $357.5 billion, 5.4 percent (±1.3%) below the $377.9 billion for the same period in 2010.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $493.4 billion, 0.8 percent (±1.3%) above the revised May estimate of $489.6 billion. Residential construction was at a seasonally adjusted annual rate of $235.8 billion in June, 0.3 percent (±1.3%) below the revised May estimate of $236.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $257.7 billion in June, 1.8 percent (±1.3%) above the revised May estimate of $253.1 billion.

Public Construction

In June, the estimated seasonally adjusted annual rate of public construction spending was $278.9 billion, 0.7 percent (±2.6%) below the revised May estimate of $280.9 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.1 percent (±4.0%) below the revised May estimate of $69.3 billion. Highway construction was at a seasonally adjusted annual rate of $74.6 billion, 1.6 percent (±7.7%) below the revised May estimate of $75.8 billion.

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