Construction Spending Ahead of 2015 Despite June Dip

Posted To: MND NewsWire

Construction spending eased slightly in June, but the Census Bureau said today that it is still running substantially ahead of spending in the first six months of 2015. Spending in June was at a seasonally adjusted annual rate of $1.13 trillion compared to $1.40 trillion in May, a drop of 0.6 percent. The June figure is 0.3 percent higher than the June 2015 estimate. Spending for all construction in 2016 through the end of June has totaled $539.8 billion, 6.2 percent more than spending in the same period the previous year. Privately funded construction for all purposes was at a seasonally adjusted annual rate of $851.1 billion in June, also a decrease of 0.6 percent from May. It remained 2.5 percent ahead of private spending a year earlier. Year-to-date spending at the end of June was $409...(read more)

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