The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2012 was estimated at a seasonally adjusted annual rate of $842.1 billion, 0.4% (±1.8%) above the revised May estimate of $838.3 billion. The June figure is 7.0% (±2.0%) above the June 2011 estimate of $786.8 billion.

During the first 6 months of this year, construction spending amounted to $387.1 billion, 9.0% (±1.5%) above the $355.1 billion for the same period in 2011.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $567.9 billion, 0.7%(±1.6%) above the revised May estimate of $564.2 billion. Residential construction was at a seasonally adjusted annual rate of $265.6 billion in June, 1.3% (±1.3%) above the revised May estimate of $262.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $302.3 billion in June, 0.1% (±1.6%) above the revised May estimate of $302.1 billion.

Public Construction

In June, the estimated seasonally adjusted annual rate of public construction spending was $274.2 billion, nearly the same as (±2.8%) the revised May estimate of $274.1 billion. Educational construction was at a seasonally adjusted annual rate of $65.7 billion, 1.4% (±4.6%) below the revised May estimate of $66.6 billion. Highway construction was at a seasonally adjusted annual rate of $80.4 billion, 1.5% (±7.7%)* above the revised May estimate of $79.3 billion.

Read the full June U.S. Census Bureau Construction Spending Report.