Value of New Construction Shows Slight Bump in June But Maintains Solid YOY Pace

Value of New Construction Shows Slight Bump in June But Maintains Solid YOY Pace

The U.S. Census Bureau says construction spending during June 2015 was estimated at a seasonally adjusted annual rate of $1,064.6 billion, 0.1% above the revised May estimate of $1,063.5 billion. The June figure is 12% above the June 2014 estimate of $950.3 billion. During the first six months of this year, construction spending amounted to $482.7 billion, 8%  above the $446.8 billion for the same period in 2014.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $766.4 billion, 0.5% below the revised May estimate of $770 billion. Residential construction was at a seasonally adjusted annual rate of $371.6 billion in June, 0.4% above the revised May estimate of $370 billion. Nonresidential construction was at a seasonally adjusted annual rate of $394.8 billion in June, 1.3% below the revised May estimate of $400 billion. Multi-family construction was once again one of the stars of this construction category with a 2.8% monthly increase to $51.5 billion. That’s 23.7% better than June 2014’s $40.7 billion figure.

Public construction. In June, the estimated seasonally adjusted annual rate of public construction spending was $298.2 billion, 1.6% above the revised May estimate of $293.5 billion. Educational construction was at a seasonally adjusted annual rate of $67.2 billion, 0.2% above the revised May estimate of $67.1 billion. Amusement  & recreation is running hot with an 11% increase to $12.2 billion, 31.9% over June 2014. 

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