Construction spending declined 0.7 percent
Construction spending during June 2020 was estimated at a seasonally adjusted annual rate of $1,355.2 billion, 0.7 percent below the revised May estimate of $1,364.7 billion.
The June figure is 0.1 percent above the June 2019 estimate of $1,354.1 billion. During the first six months of this year, construction spending amounted to $667.9 billion, 5.0 percent above the $636.0 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,001.9 billion, 0.7 percent below the revised May estimate of $1,009.0 billion. Residential construction declined by 1.5 percent. Nonresidential construction was 0.2 percent above May.
The estimated seasonally adjusted annual rate of public construction spending was $353.3 billion, 0.7 percent below the revised May estimate of $355.8 billion. Educational construction was 2.7 percent below May, while highway construction was 1.7 percent below May.