Construction spending falls by 1.3 percent
Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3 percent below the revised May estimate of $1,303.4 billion.
The June figure is 2.1 percent below the June 2018 estimate of $1,314.8 billion. During the first six months of this year, construction spending amounted to $615.8 billion, 0.5 percent below the $619.0 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $962.9 billion, 0.4 percent below the revised May estimate of $967.0 billion. Residential construction was 0.5 percent below May, while nonresidential construction was down by 0.3 percent.
In June, the estimated seasonally adjusted annual rate of public construction spending was $324.1 billion, 3.7 percent below the revised May estimate of $336.4 billion. Educational construction was 6.8 percent below May, and hHighway construction was down by 6.4 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
