August 3, 2009
Construction spending up slightly
Spending on private and public construction in the United States rose 0.3 percent in June, compared with May, the U.S. Commerce Department said Monday.
Construction rose to a seasonally adjusted annual rate of $965.7 billion in June, although spending was down 10.2 percent from June a year ago.Expenditures on private construction, at a seasonally adjusted annual rate of $643.9 billion, was 0.1 percent below May's revised figure, Commerce said.
Residential private construction rose 0.5 percent in June with seasonally adjusted annual spending at $246.1 billion. Non-residential private spending on construction projects fell 0.5 percent during the month to an adjusted annual rate of $397.9 billion.
Public construction rose in June, up 1 percent to $321.7 billion.
Educational construction rose 0.4 percent to $91 billion, while highway construction outlays rose 0.2 percent during the month to $81.5 billion, the government said.