June construction spending estimates dip 0.4% from May
June construction spending was estimated at a seasonally adjusted annual rate of $2,136.2 billion, 0.4% (±0.8%) below the revised May estimate of $2,143.9 billion.
The June figure is 2.9% (±1.5%) below the June 2024 estimate of $2,199.8 billion. During the first six months of this year, construction spending amounted to $1,036.1 billion, 2.2% (±1.0%) below the $1,058.9 billion for the same period in 2024.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,621.9 billion, 0.5% (±0.5%) below the revised May estimate of $1,630.2 billion. Residential construction was at a seasonally adjusted annual rate of $883.1 billion in June, 0.7% (±1.3%) below the revised May estimate of $889.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $738.8 billion in June, 0.3% (±0.5%) * below the revised May estimate of $741.1 billion.
Public Construction
In June, the estimated seasonally adjusted annual rate of public construction spending was $514.3 billion, 0.1% (±1.6%) * above the revised May estimate of $513.7 billion. Educational construction was at a seasonally adjusted annual rate of $112.7 billion, 0.4% (±2.6%) above the revised May estimate of $112.2 billion. Highway construction was at a seasonally adjusted annual rate of $144.1 billion, 0.6% (±4.8%) above the revised May estimate of $143.2 billion.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about 3BG Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
