Construction spending fell 0.6% in June to a seasonally adjusted annual rate of $1,133.5 billion. May’s spending estimate was revised down to $1,140.9. During the first six months of this year, construction spending amounted to $539.8 billion, up 6.2% from the first six months of 2015.
Total private construction fell to a rate of $851.0 billion, down 0.6% from the revised May estimate of $856.6 billion.
Private residential construction was at a seasonally adjusted annual rate of $445.8 billion, almost unchanged from May.
Private nonresidential construction fell 1.3% to a rate of $405.2 billion, largely due to slowdowns in manufacturing related construction projects.
Public construction fell 0.6% to a rate of $282.5 billion, in large part due to declines in both educational and highway construction.
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