Highway construction up a fraction in June

The U.S. Census Bureau of the Department of Commerce announced Monday that construction spending during June 2009 was estimated at a seasonally adjusted annual rate of $965.7 billion, 0.3% above the revised May estimate of $963.2 billion. The June figure is 10.2% below the June 2008 estimate of $1,075.6 billion.

During the first six months of this year, construction spending amounted to $455.6 billion, 11.4% below the $514.4 billion for the same period in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $643.9 billion, 0.1% below the revised May estimate of $644.8 billion. Residential construction was at a seasonally adjusted annual rate of $246.1 billion in June, 0.5% above the revised May estimate of $244.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $397.9 billion in June, 0.5% below the revised May estimate of $400.0 billion.

In June, the estimated seasonally adjusted annual rate of public construction spending was $321.7 billion, 1.0% above the revised May estimate of $318.5 billion. Educational construction was at a seasonally adjusted annual rate of $91.0 billion, 0.4% above the revised May estimate of $90.7 billion. Highway construction was at a seasonally adjusted annual rate of $81.5 billion, 0.2% above the revised May estimate of $81.3 billion.