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Electricalmarketing 2455 Construction Gettyimages 645868514 1
Electricalmarketing 2455 Construction Gettyimages 645868514 1
Electricalmarketing 2455 Construction Gettyimages 645868514 1
Electricalmarketing 2455 Construction Gettyimages 645868514 1
Electricalmarketing 2455 Construction Gettyimages 645868514 1

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

Aug. 14, 2017
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.

Private construction. 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. Residential construction was at a seasonally adjusted annual rate of $502.9 billion in June, 0.2% below the revised May estimate of$504 billion. Nonresidential construction was at a seasonally adjusted annual rate of $437.8 billion in June, 0.1% above the revised May estimate of $437.3 billion. Construction economists are still waiting for spending to increase in the healthcare segment, which was basically flat at $30.1 billion in June and up just +1% over June 2016. One would think the aging of the Baby Boomer demographic would start feeding construction in this segment, which has been relatively dormant on a national basis for some time.

Public construction. In June the estimated seasonally adjusted annual rate of public construction spending was $265.1 billion, 5.4% below the revised May estimate of $280.3 billion. Educational construction was at a seasonally adjusted annual rate of $67.5 billion, 5.5% below the revised May estimate of $71.4 billion.

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