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Construction spending dips 0.6 percent in June to $884 billion

Posted By Amanda Bayhi On August 2, 2013 @ 11:38 am In Aggbeat Online,News | No Comments

ConstructionSilhouettes [1]Construction spending fell 0.6 percent in June to a seasonally-adjusted rate of $884 billion, according to our sister site, Equipment World [2].

The decline follows two consecutive months of increases. Spending in June was 3.3 percent higher than it was a year ago.

Government construction spending fell 1.1 percent to $261 billion. Public residential spending decreased 2 percent to $6 billion, and public nonresidential declined 1.1 percent to $225 billion.

Total residential construction spending slipped 0.1 percent to $338 billion, while total nonresidential spending fell 1 percent to $545.7 billion.

Total private construction spending decreased 0.4 percent to $623 billion. Private residential construction held steady, but private nonresidential fell 0.9 percent.


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[1] Image: http://www.aggman.com/files/2013/08/ConstructionSilhouettes.jpg

[2] according to our sister site, Equipment World: http://www.equipmentworld.com/construction-spending-falls-0-6-in-june-behind-decreases-in-nonresidential-government-spending/

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