Residential carries construction spending in June
Residential advances 1.1 percent for month as nonresidential category slips 0.7 percent.
The U.S. Census Bureau announced the following value put in place construction statistics for June 2021:
Total Construction
Construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, 0.1 percent (±1.2 percent)* above the revised May estimate of $1,551.2 billion. The June figure is 8.2 percent (±1.3 percent) above the June 2020 estimate of $1,435.0 billion.
During the first six months of this year, construction spending amounted to $736.5 billion, 5.4 percent (±1.0 percent) above the $698.8 billion for the same period in 2020.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,215.2 billion, 0.4 percent (±0.7 percent)* above the revised May estimate of $1,210.3 billion.
Residential construction was at a seasonally adjusted annual rate of $763.4 billion in June, 1.1 percent (±1.3 percent)* above the revised May estimate of $755.4 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $451.8 billion in June, 0.7 percent (±0.7 percent)* below the revised May estimate of $454.9 billion.
Public Construction
In June, the estimated seasonally adjusted annual rate of public construction spending was $337.0 billion, 1.2 percent (±2.0 percent)* below the revised May estimate of $340.9 billion.
Educational construction was at a seasonally adjusted annual rate of $81.3 billion, 0.8 percent (±4.4 percent)* below the revised May estimate of $82.0 billion.
Highway construction was at a seasonally adjusted annual rate of $92.4 billion, 5.3 percent (±4.6 percent) below the revised May estimate of $97.5 billion.
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