A rise in home building helped lift construction spending totals in June, according to the latest figures from the U.S. Department of Commerce released Wednesday.
Private residential construction was at a seasonally adjusted annual rate of $265.6 billion in June, or 1.3 percent above the revised May estimate of $262.1 billion. Meanwhile, overall private spending on private construction reached $567.9 billion, or 0.7 percent above the revised May estimate of $564.2 billion.
For the first six months of the year, construction spending-including private and public construction-amounted to $387.1 billion, or 9.0 percent above the $355.1 billion for the same period in 2011.
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