Total construction spending was estimated at a seasonally adjusted annual rate of $1,287.0 billion, down 1.3% (±1.2%). The month of May was revised higher from -0.8% to -0.5%, or $1,303.4 billion.
With the June decline, construction spending is 2.1% (±1.6%) below the June 2018 estimate of $1,314.8 billion. During the first six months of this year, construction spending was $615.8 billion, or 0.5% (±1.2%) below the $619.0 billion over the same period one year prior.
| Indicator | Prior | Revised | Consensus Forecast | Forecast Range | Actual |
| Construction Spending – M/M ∆ | -0.8% | -0.5% | 0.3% | -0.5% to 1.0% | -1.3% |
| Construction Spending – Y/Y ∆ | -2.3% | -2.1% |
Spending on private construction declined to a seasonally adjusted annual rate of $962.9 billion, down 0.4% (±0.8%) from $967.0 billion.
Residential construction came in at a seasonally adjusted annual rate of $507.2 billion in June, down 0.5% (±1.3%) from $509.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.7 billion, down 0.3% (±0.8%) from $457.3 billion.
The estimated seasonally adjusted annual rate of public construction spending was $324.1 billion, down 3.7% (±2.0%) from $336.4 billion. Educational construction was estimated at a seasonally adjusted annual rate of $73.0 billion, down 6.8% (±2.0%) from $78.3 billion.
Highway construction was at a seasonally adjusted annual rate of $101.9 billion, down 6.4% (±5.4%) from $108.9 billion.
