June construction spending 8.3% higher YOY
Construction spending during June 2022 was estimated at a seasonally adjusted annual rate of $1,762.3 billion, 1.1 percent below the revised May estimate of $1,781.9 billion.
The June figure is 8.3 percent above the June 2021 estimate of $1,628.0 billion. During the first six months of this year, construction spending amounted to $848.2 billion, 10.7 percent above the $766.0 billion for the same period in 2021.
Spending on private construction was at a seasonally adjusted annual rate of $1,416.4 billion, 1.3 percent below the revised May estimate of $1,434.4 billion. Residential construction was at a seasonally adjusted annual rate of $923.7 billion in June, 1.6 percent below the revised May estimate of $939.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $492.7 billion in June, 0.5 percent below the revised May estimate of $495.3 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $345.9 billion, 0.5 percent below the revised May estimate of $347.5 billion. Educational construction was at a seasonally adjusted annual rate of $77.5 billion, 0.7 percent below the revised May estimate of $78.1 billion. Highway construction was at a seasonally adjusted annual rate of $97.4 billion, 2.7 percent below the revised May estimate of $100.1 billion
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.
