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June Construction Spending Rises


The U.S. Census Bureau of the Department of Commerce announced that construction spending during June 2012 was estimated at a seasonally adjusted annual rate of $842.1 billion, 0.4 percent (±1.8 percent) above the revised May estimate of $838.3 billion.

The June figure is 7.0 percent (±2.0 percent) above the June 2011 estimate of $786.8 billion. During the first 6 months of this year, construction spending amounted to $387.1 billion, 9.0 percent (±1.5 percent) above the $355.1 billion for the same period in 2011.

In June, the estimated seasonally adjusted annual rate of public construction spending was $274.2 billion, nearly the same as (±2.8 percent) the revised May estimate of $274.1 billion. Educational construction was at a seasonally adjusted annual rate of $65.7 billion, 1.4 percent (±4.6 percent) below the revised May estimate of $66.6 billion.

Highway construction was at a seasonally adjusted annual rate of $80.4 billion, 1.5 percent (±7.7 percent) above the revised May estimate of $79.3 billion.

Spending on private construction was at a seasonally adjusted annual rate of $567.9 billion, 0.7 percent (±1.6 percent) above the revised May estimate of $564.2 billion. Residential construction was at a seasonally adjusted annual rate of $265.6 billion in June, 1.3 percent (±1.3 percent) above the revised May estimate of $262.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $302.3 billion in June, 0.1 percent (±1.6 percent) above the revised May estimate of $302.1 billion.