Value of New Construction Drops Slightly in June to $883.9 Billion but Rises 5.1% YTY

During the first six months of this year, construction spending amounted to $408.5 billion, 5.1% above the $388.8 billion for the same period in 2012.

The Department of Commerce announced that construction spending during June 2013 was estimated at a seasonally adjusted annual rate of $883.9 billion, 0.6% below the revised May estimate of $889.4 billion. The June figure is 3.3% above the June 2012 estimate of $855.8 billion. During the first six months of this year, construction spending amounted to $408.5 billion, 5.1% above the $388.8 billion for the same period in 2012.

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