The U.S. Census Bureau is reporting that total construction spending in June was estimated at a seasonally adjusted annual rate of $1.2 trillion, which is 1.3% lower than May, but is 1.6% higher than June 2016. Spending on private construction was at a seasonally adjusted annual rate of $940.7 billion, which is 0.1% below May’s figure. Residential construction was at a seasonally adjusted annual rate of $502.9 billion in June, 0.2% below May’s estimate. Nonresidential construction was at a seasonally adjusted annual rate of $437.8 billion in June.
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