Construction Spending Falls Again in June, Says Commerce Dept.
Construction spending reached $1,355.2 billion in June, seasonally adjusted, according to a report released by the U.S. Dept. of Commerce on Aug. 3. The figure is 0.7% below May's revised estimate of $1,364.7 billion, and 0.1% higher than the $1,354.1 billion reported in June 2019.
In the private sector, spending was at $1,001.9 billion, 0.7% higher than May, seasonally adjusted. Residential construction was estimated at $534.2 billion, a monthly decline of 1.5%, while non-residential construction's June figure is $467.7 billion, 0.2% higher than May's estimate. Health care and manufacturing work each experienced a monthly 1.7% increase, seasonally adjusted, while commercial and transportation work fell 1.3% and 0.6%, respectively.
Public spending was down 0.7% for the month, reaching $353.3 billion for June. Educational construction is estimated at 85.8%, a 2.7% monthly decline, while highway spending's seasonally adjusted estimate is $102.6 billion, down 1.7% from May's figure. Residential work increased 2.7%, while healthcare was up 1.9% for the month.
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