Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3% below the revised May estimate of $1,303.4 billion, the Census Bureau reported Thursday. The June figure is 2.1% (±1.6%) below the June 2018 estimate of $1,314.8 billion.
During the first six months of this year, construction spending amounted to $615.8 billion, 0.5% below the $619.0 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $962.9 billion, 0.4% below the revised May estimate of $967.0 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in June, 0.5% below the revised May estimate of $509.7 billion. Single-family construction was down 0.7% from May to $263.6 million, down 8.5% from a year earlier.
Nonresidential construction was at a seasonally adjusted annual rate of $455.7 billion in June, 0.3% (±0.8%)* below the revised May estimate of $457.3 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $324.1 billion, 3.7% (±2.0%) below the revised May estimate of $336.4 billion. Educational construction was at a seasonally adjusted annual rate of $73.0 billion, 6.8% (±2.0%) below the revised May estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $101.9 billion, 6.4% (±5.4%) below the revised May estimate of $108.9 billion.
