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Construction Spending Slides in June

Thu, August 01, 2019 9:29 AM | Anonymous member (Administrator)

Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3 percent below the revised May estimate of $1,303.4 billion. The bulk of the June drop-off came in the public sector side of construction spending. The June figure is 2.1 percent 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 percent below the $619.0 billion for the same period in 2018.

PRIVATE CONSTRUCTION:

Private Construction Spending on private construction was at a seasonally adjusted annual rate of $962.9 billion, 0.4 percent 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 percent below the revised May estimate of $509.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.7 billion in June, 0.3 percent below the revised May estimate of $457.3 billion. 

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