U.S. construction flat in June
Rate misses estimate by 7.9 percent.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2010 was estimated at a seasonally adjusted annual rate of $836.0 billion, 0.1 percent (±1.6%)* above the revised May estimate of $834.8 billion. The June figure is 7.9 percent (±1.6%) below the June 2009 estimate of $907.7 billion.
During the first 6 months of this year, construction spending amounted to $389.6 billion, 11.2 percent (±1.1%) below the $438.7 billion for the same period in 2009.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $527.6 billion, 0.6 percent (±1.3%)* below the revised May estimate of $530.9 billion.
Residential construction was at a seasonally adjusted annual rate of $258.3
billion in June, 0.8 percent (±1.3%)* below the revised May estimate of $260.3 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $269.3 billion in June, 0.5 percent (±1.3%)* below the revised May estimate of
$270.6 billion.
PUBLIC CONSTRUCTION
In June, the estimated seasonally adjusted annual rate of public construction spending was $308.4 billion, 1.5 percent (±2.2%)* above the revised May estimate of $303.9 billion.
Educational construction was at a seasonally adjusted annual rate of $71.0 billion, 3.2 percent (±3.4%)* below the revised May estimate of $73.4 billion.
Highway construction was at a seasonally adjusted annual rate of $83.2 billion, 0.1 percent (±6.7%)* above the revised May estimate of $83.2 billion.
