Construction’s June spending edged up just 0.1% from May’s level, to a $1.065-billion annual rate, but posted a strong 12% gain year over year, the Commerce Dept. has reported.
Commerce’s U.S. Census Bureau said in its latest monthly construction spending report, released on Aug. 3, that the value of construction work put in place during the first six months of 2015 rose 8% from the same period last year.
Total residential spending in June increased a slight 0.4% from May and a robust 12% year over year.
Nonresidential work was flat compared with May’s level but gained 11.5% from June 2014’s mark. The figures are adjusted for seasonal differences.