2019 Residential Construction Spending Falling Further Behind Last Year

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Posted To: MND NewsWire

Construction spending in June missed matching the May level by 1.3 percent. Total spending by both public and private sources was at a seasonally adjusted annual rate of $1.287 trillion compared to that in May at the rate of $1.303 trillion. June’s construction value was also lower than in June 2018 by 2.1 percent. On a non-seasonally adjusted basis, spending totaled $116.381 billion compared to $113.479 billion in May. On a year-to-date (YTD) basis spending is down 0.5 percent compared to 2018. There was $615.779 billion spent on all construction through the first half of this year. Seasonally adjusted annual spending by the private sector was $962.943 billion in June, an 0.4 percent decline from the $966.990 billion rate in May. The rate was 4.6 percent lower than the rate the prior June…(read more)

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