The U.S. Census Bureau of the Department of Commerce announced that construction spending during June 2007 was estimated at a seasonally adjusted annual rate of $1,175.4 billion, 0.3 percent (±1.4 percent) below the revised May estimate of $1,178.4 billion. The June figure is 2.4 percent (±2.1 percent) below the June 2006 estimate of $1,204.0 billion.

During the first six months of this year, construction spending amounted to $550.0 billion, 3.5 percent (±1.6 percent) below the $570.1 billion for the same period in 2006.

Spending on private construction was at a seasonally adjusted annual rate of $890.9 billion, 0.3 percent (±1.4 percent) below the revised May estimate of $894.0 billion. Residential construction was at a seasonally adjusted annual rate of $544.3 billion in June, 0.7 percent (±1.3 percent) below the revised May estimate of $548.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $346.6 billion in June, 0.3 percent (±1.4 percent) above the revised May estimate of $345.6 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $284.6 billion, nearly the same as (±2.2 percent) the revised May estimate of $284.4 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 0.6 percent (±3.4 percent) below the revised May estimate of $80.4 billion. Highway construction was at a seasonally adjusted annual rate of $75.0 billion, 1.1 percent (±5.9 percent) below the revised May estimate of $75.9 billion.

July 2007 data will be released on September 4, 2007, at 10:00 a.m. EDT.

For more detailed data and methodologies, visit http://www.census.gov/constructionspending.