The US Census Bureau of the Department of Commerce announced Thursday that construction spending during June 2013 was estimated at a seasonally adjusted annual rate of $883.9 billion, 0.6 percent below the revised May estimate of $889.4 billion. The June figure is 3.3 percent 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 percent above the $388.8 billion for the same period in 2012.
Spending on private construction was at a seasonally adjusted annual rate of $622.8 billion, 0.4 percent below the revised May estimate of $625.4 billion. Residential construction was at a seasonally adjusted annual rate of $332.1 billion in June, nearly the same as the revised May estimate of $332.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $290.8 billion in June, 0.9 percent below the revised May estimate of $293.3 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $261.1 billion, 1.1 percent below the revised May estimate of $264.0 billion. Educational construction was at a seasonally adjusted annual rate of $59.9 billion, 0.4 percent below the revised May estimate of $60.2 billion. Highway construction was at a seasonally adjusted annual rate of $75.0 billion, 2.8 percent below the revised May estimate of $77.1 billion.