Total construction spending rose 0.5% in June to $1.93 trillion, according to the U.S. Census Bureau.
Compared with June 2022, construction spending was up 3.5%. Spending increased on most residential and nonresidential construction segments.
“Despite high interest rates, private sector demand for most types of construction activity continues to expand,” stated Stephen E. Sandherr, CEO of the Associated General Contractors of America.
Residential spending increased 0.9% from May to June.
The full AGC report can be found here.
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