Construction spending during June rose 0.2 percent to a seasonally adjusted annual rate of $772.3 billion compared with May, the U.S. Census Bureau of the Dept. of Commerce reported yesterday. However, the June figure is 4.7 percent below the June 2010 estimate of $810.4 billion.
During the first 6 months of this year, construction spending amounted to $357.5 billion, 5.4 percent below the $377.9 billion for the same period in 2010.
Spending on private construction rose 0.8 percent to $493.4 billion compared with the revised May estimate of $489.6 billion. Residential construction was at a seasonally adjusted annual rate of $235.8 billion in June, 0.3 percent below the revised May estimate of $236.5 billion.
