Aug
01

US: Construction Spending Up

By

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2012 was estimated at a seasonally adjusted annual rate of $842.1 billion, 0.4 percent (±1.8%)* above the revised May estimate of $838.3 billion. The June figure is 7.0 percent (±2.0%) above the June 2011 estimate of $786.8 billion. During the first 6 months of this year, construction spending amounted to $387.1 billion, 9.0 percent (±1.5%) above the $355.1 billion for the same period in 2011.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $567.9 billion, 0.7 percent (±1.6%)* above the revised May estimate of $564.2 billion. Residential construction was at a seasonally adjusted annual rate of $265.6 billion in June, 1.3 percent (±1.3%)* above the revised May estimate of $262.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $302.3 billion in June, 0.1 percent (±1.6%)* above the revised May estimate of $302.1 billion.

PUBLIC CONSTRUCTION

In June, the estimated seasonally adjusted annual rate of public construction spending was $274.2 billion, nearly the same as (±2.8%)* the revised May estimate of $274.1 billion. Educational construction was at a seasonally adjusted annual rate of $65.7 billion, 1.4 percent (±4.6%)* below the revised May estimate of $66.6 billion. Highway construction was at a seasonally adjusted annual rate of $80.4 billion, 1.5 percent (±7.7%)* above the revised May estimate of $79.3 billion.

Be Sociable, Share!
    Categories : National News

    Comments are closed.