June construction spending declined
Construction spending during June 2016 was estimated at a seasonally adjusted annual rate of $1,133.5 billion, 0.6 percent below the revised May estimate of $1,140.9 billion.
The June figure is 0.3 percent above the June 2015 estimate of $1,130.5 billion.
During the first 6 months of this year, construction spending amounted to $539.8 billion, 6.2 percent above the $508.1 billion for the same period in 2015.
Spending on private construction was at a seasonally adjusted annual rate of $851.0 billion, 0.6 percent below the revised May estimate of $856.6 billion. Residential construction was at a seasonally adjusted annual rate of $445.8 billion in June, nearly the same as the revised May estimate of $445.9 billion. Nonresidential construction was 1.3 percent below May.
In June, the estimated seasonally adjusted annual rate of public construction spending was $282.5 billion, 0.6 percent below the revised May estimate of $284.3 billion. Educational construction was 0.5 percent below the revised May estimate. Highway construction was 1.4 percent below the revised May estimate.
Click for the report from the U.S. Census Bureau of the Department of Commerce.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
