US construction spending for June -0.3% versus 0.2% estimate

• Prior month -0.1% revised to -0.4%
• Construction spending for June -0.3% versus 0.2% expected

Total Construction:

• June 2024 construction spending: $2,148.4 billion (seasonally adjusted annual rate)
• Decrease from May 2024: -0.3%
• Increase from June 2023 YoY: +6.2%
• First six months of 2024 spending: $1,034.8 billion
• Increase from first six months of 2023: 8.6%

Private Construction:

• Private construction spending (June 2024): $1,664.6 billion (seasonally adjusted annual rate)
  • Decrease from May 2024: -0.3%
• Residential construction spending (June 2024): $928.0 billion
  • Decrease from May 2024: -0.3%
• Nonresidential construction spending (June 2024): $736.6 billion
  • Decrease from May 2024: -0.1%

Public Construction:

• Public construction spending (June 2024): $483.9 billion (seasonally adjusted annual rate)
  • Decrease from May 2024: -0.4%
• Educational construction spending (June 2024): $101.9 billion
  • Decrease from May 2024: -0.9%
• Highway construction spending (June 2024): $143.5 billion
  • Decrease from May 2024: -0.4%

This article was written by Greg Michalowski at www.forexlive.com.