June 2018 Construction Spending
The U.S. Census Bureau announced construction spending for June 2018 which was at a seasonally adjusted annual rate of $1,317.2 billion, 1.1 percent below the revised May estimate of $1,332.2 billion.
Despite the drop from May to June, June was 6.1 percent above the June 2017 estimate of $1,241.3 billion. Additionally, during the first six months of this year, construction spending amounted to $619.9 billion, 5.1 percent above the $589.6 billion for the same period in 2017.
While private construction spending was $1,019.8 billion, 0.4 below the revised May estimate of $1,023.9 billion; public construction spending was $297.4 billion, 3.5 percent below the revised May estimate of $308.3 billion. However, Total Public Construction is up 4.9% over June 2017. A couple of contributors to this growth are Transportation up 11.9%, and Highway & Streets up 6.3%.
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