San Fran Construction 1025
San Fran Construction 1025
San Fran Construction 1025
San Fran Construction 1025
San Fran Construction 1025

June Value of New Construction Hits 2020 Halfway Point +5% Ahead of June 2019 Pace

Aug. 6, 2020

Construction spending during June 2020 was estimated at a seasonally adjusted annual rate of $1,355.2 billion, -0.7% below the revised May estimate of $1,364.7 billion. According to the U.S. Census Bureau, the June figure is +0.1% above the June 2019 estimate of $1,354.1 billion. During the first six months of this year, construction spending amounted to $667.9 billion, +5% above the $636 billion for the same period in 2019.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $1,001.9 billion, -0.7% below the revised May estimate of $1,009.0 billion. Residential construction was at a seasonally adjusted annual rate of $534.2 billion in June, -1.5% below the revised May estimate of $542.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $467.7 billion in June, +0.2% above the revised May estimate of $466.9 billion. Private office construction, one of the larger private construction segments, was flat in June with a +0.3% increase to $69.9 billion, which was down -3.5% from June 2019.

Public construction. In June, the estimated seasonally adjusted annual rate of public construction spending was $353.3 billion, -0.7% below the revised May estimate of $355.8 billion and +5.5% above June 2019.

Educational construction was at a seasonally adjusted annual rate of -$85.8 billion, -2.7% below the revised May estimate of $88.2 billion. Public safety construction led all categories on a YOY percent basis, with a +41.5% increase to $14.2 billion, a +1% increase over May 2020.