Construction Inches Up in June

Construction spending in June 2011 was at a seasonally adjusted annual rate of $772.3 billion, up 0.2% from May 2011 and down 4.7 percent from June 2010, according to the U.S. Department of Commerce. April and May 2011 figures were revised upward. Private construction was at an annual rate of $493.4 billion-0.8% above the revised May estimate, while public construction was $278.9 billion-0.7% below the revised May estimate. For the first six months of 2011, construction spending was at $357.5 billion, which is 5.4 percent below the same period in 2010.