Construction site Photo by Sean Gallup/Getty Images

Value of New Construction Dips -1.3% in June But Still Tracking +1.6% Year-Over-Year

Spending on private construction was at a seasonally adjusted annual rate of $940.7 billion, 0.1% below the revised May estimate of $941.3 billion.

Construction spending during June 2017 was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3% below the revised May estimate of $1,221.6 billion, according to recent Census Dept. data. The June figure is 1.6% above the June 2016 estimate of $1,186.4 billion. During the first six months of 2017, construction spending amounted to $577 billion, 4.8% above the $550.5 billion for the same period in 2016.

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