Construction Spending Rises in June

Construction spending rose 0.1 percent in June compared with May to a seasonally adjusted annual rate of $836 billion, according to a report released Monday by the U.S. Census Bureau and the Dept. of Commerce. The June figure is 7.9 percent below the June2009 estimate of $907.7 billion.

Residential construction spending declined 0.8 percent to a seasonally adjusted annual rate of $258.3 billion in June compared with May; spending on private construction decreased 0.6 percent to a seasonally adjusted annual rate of $527.6billion; and nonresidential construction declined 0.5 percent toa seasonally adjusted annual rate of $269.3 billion.

Source: U.S. Census Bureau and the Dept. of Commerce