Updated: 01-Aug-17 10:56 ET
| June Construction Spending |
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| Updated: 01-Aug-17 10:56 ET |
Highlights
- Total construction spending declined 1.3% month-over-month in June (Briefing.com consensus +0.5%) after an upwardly revised 0.3% increase (from 0.0%) for May.
Key Factors
- The June decline was driven by a 5.3% decrease in total public construction spending and a 0.1% decrease in total private constriction spending.
- On the public side, nonresidential spending dropped 5.4%, with every component category seeing a decline in spending. Highway and street spending was down 6.6% while educational spending fell 5.5%.
- On the private side, residential spending declined 0.2% with new multi-family spending down 2.9%. The decline in residential spending was offset slightly by a 0.1% increase in nonresidential spending.
- Altogether, residential spending decreased 0.3% in June while nonresidential spending fell 2.0%.
- On a year-over-year basis, total construction spending is up just 1.6%, with public construction spending down 9.5% and private construction spending up 5.3%
Big Picture
- The key takeaway from the report is that the 1.6% year-over-year growth rate in total construction spending is the second-lowest growth rate since 2011.
| Category | JUN | MAY | APR | MAR | FEB |
| Nominal (Current) Dollars | |||||
| Total Construction | -1.3% | 0.3% | -1.8% | 0.3% | 1.0% |
| Private | -0.1% | -0.1% | -0.9% | 0.2% | 0.3% |
| Residential | -0.2% | -0.8% | -0.4% | 0.8% | 0.7% |
| Nonresidential | 0.1% | 0.6% | -1.4% | -0.6% | -0.2% |
| Public | -5.4% | 1.9% | -4.7% | 0.8% | 3.3% |
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