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Monday, August 3, 2015

Slow Growth for Construction Spending in June

Construction spending increased 0.1 percent in June to a seasonally adjusted annual rate (SAAR) of $1,064.6 billion. May spending was revised up from $1,035.8 to $1,063.5 billion. Construction spending during the first six months of 2015 amounted to $482.7 billion, 8 percent higher than the first six months of 2014.
Total private construction fell to $766.4 billion (SAAR), 0.5 percent below May’s revised estimate of $770 billion.

Private residential construction rose to $371.6 billion (SAAR), 0.4 percent above May’s revised estimate as construction of multi-family homes increased for the month.

Private non-residential construction fell to $394.8 billion (SAAR), down 1.3 percent from May, but up 14.6 percent from a year ago. Private non-residential construction declined across most categories, with the exception of lodging and amusement and recreation.

Public construction spending grew 1.6 percent to $298.2 billion (SAAR). The 1.7 percent increase in public nonresidential construction was partially offset by a 3.8 percent decline in public residential construction.

Read the Census release.

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