Construction spending during June 2015 was estimated at a seasonally adjusted annual rate of $1,064.6 billion, 0.1% (±1.5%) above the revised May estimate of $1,063.5 billion, the U.S. Census Bureau of the Department of Commerce reported Monday.
The June figure is 12.0% (±2.1%) above the June 2014 estimate of $950.3 billion.
During the first 6 months of this year, construction spending amounted to $482.7 billion, 8.0% (±1.5%) above the $446.8 billion for the same period in 2014.
Spending on private construction was at a seasonally adjusted annual rate of $766.4 billion, 0.5% (±0.8%) below the revised May estimate of $770.0 billion. Residential construction was at a seasonally adjusted annual rate of $371.6 billion in June, 0.4% (±1.3%) above the revised May estimate of $370.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $394.8 billion in June, 1.3% (±0.8%) below the revised May estimate of $400.0 billion.
In June, the estimated seasonally adjusted annual rate of public construction spending was $298.2 billion, 1.6% (±2.6%) above the revised May estimate of $293.5 billion.
Educational construction was at a seasonally adjusted annual rate of $67.2 billion, 0.2% (±5.1%) above the revised May estimate of $67.1 billion. Highway construction was at a seasonally adjusted annual rate of $90.9 billion, 1.2% (±6.3%) above the revised May estimate of $89.8 billion.