U.S. Construction Spending Falls in June

U.S. construction spending declined 0.4 percent in June, according to monthly statistics released by the U.S. Census Bureau. The figure for June is 5.9 percent below the total spending for the same month last year.

During the first six months of the year, total spending amounted to $514.2 billion, 5.4 below the estimate for the same period in 2007.

Private residential construction has continued to decline, falling another 1.8 percent. However, nonresidential construction improved, increasing 0.8 percent.

As a whole, public construction posted a 0.2 percent decrease, with educational construction decreasing 1.5 percent from May’s estimate and highway construction falling 1.4 percent.

More information is available at www.census.gov.