June 2021 Construction Spending Up 8.2% Year-Over-Year and 0.1% Month-Over-Month

The U.S. Census Bureau has announced that total construction spending during June 2021 was estimated at a seasonally adjusted annual rate (SAAR) of $1,552.2 billion, 0.1% above the revised May estimate of $1,551.2 billion. The June figure is 8.2% above the June 2020 estimate of $1,435.0 billion. During the first six months of this year, construction spending amounted to $736.5 billion, 5.4% above the $698.8 billion for the same period in 2020. Private construction spending was at a SAAR of $1,215.2 billion, 0.4% above the revised May estimate of $1,210.3 billion. Residential construction was at a SAAR of $763.4 billion in June, 1.1% above the revised May estimate of $755.4 billion. Nonresidential construction was at a SAAR of $451.8 billion in June, -0.7% below the revised May estimate of $454.9 billion. In June, the estimated SAAR of public construction spending was $337.0 billion, which was -1.2% below the revised May estimate of $340.9 billion. Educational construction was at SAAR of $81.3 billion, -0.8% below the revised May estimate. Highway construction was at a SAAR of $92.4 billion, -5.3% below the revised May estimate.