Construction Industry Round Table (CIRT) - Construction Spending Stays Steady in June

Construction Spending Stays Steady in June

Mon, August 02, 2021 4:32 PM | Anonymous

According to the U.S. Census Bureau total construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, 0.1 percent above the upwardly revised May estimate of $1,551.2 billion. The June figure is 8.2 percent above the June 2020 estimate of $1,435.0 billion; however a majority of the separate market segments in the chart below are actually lagging behind the revised totals for May. During the first six months of this year, construction spending amounted to $736.5 billion, a healthy 5.4 percent above the $698.8 billion for the same period in 2020.

PRIVATE CONSTRUCTION:

Spending on private construction was at a seasonally adjusted annual rate of $1,215.2 billion, 0.4 percent above the revised May estimate of $1,210.3 billion. Residential construction was at a seasonally adjusted annual rate of $763.4 billion in June, 1.1 percent above the revised May estimate of $755.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $451.8 billion in June, 0.7 percent below the revised May estimate of $454.9 billion.