The U.S. Census Bureau of the Department of Commerce announced that construction spending during June 2008 was estimated at a seasonally adjusted annual rate of $1,081.9 billion, 0.4 percent  below the revised May estimate of $1,085.7 billion.

The U.S. Census Bureau of the Department of Commerce announced that construction spending during June 2008 was estimated at a seasonally adjusted annual rate of $1,081.9 billion, 0.4 percent (±1.4%)* below the revised May estimate of $1,085.7 billion. The June figure is 5.9 percent (±2.1%) below the June 2007 estimate of $1,149.4 billion.

During the first six months of this year, construction spending amounted to $514.2 billion, 5.4 percent (±1.6%) below the $543.6 billion for the same period in 2007.

Spending on private construction was at a seasonally adjusted annual rate of $780.6 billion, 0.4 percent (±1.4%)* below the revised May estimate of $783.9 billion. Residential construction was at a seasonally adjusted annual rate of $372.5 billion in June, 1.8 percent (±1.3%) below the revised May estimate of $379.1 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $408.1 billion in June, 0.8 percent (±1.4%)* above the revised May estimate of $404.8 billion. In June, the estimated seasonally adjusted annual rate of public construction spending was $301.3 billion, 0.2 percent (±2.2%)* below the revised May estimate of $301.8 billion. Educational construction was at a seasonally adjusted annual rate of $84.4 billion, 1.5 percent (±3.7%)* below the revised May estimate of $85.7 billion.