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August 01, 2023US CONSTRUCTION SPENDING, JUNE 2023 Month over month (June 2023 vs May 2023, seasonally adjusted annual rate)
US construction spending increased 0.7% to $1,972.6 billion. Total residential construction increased 1.4% to $889.1 billion. Total non-residential construction spending increased 0.1% to $1,083.5 billion.
Private sector construction increased 0.99% to $1,548.9 billion. Private residential construction increased 1.4% to $879.0 billion, while private non-residential construction spending increased 0.5% to $670.0 billion.
Public sector construction decreased 0.4% to $423.7 billion. Public residential construction increased 2.6% to $10.1 billion, while public non-residential construction spending decreased 0.4% to $413.5 billion.
Year-to-date (Jan-Jul 2023 vs Jan-Jul 2022)
US construction spending was up 3.7%.
- Total residential construction was down 9.5%
- Total non-residential construction was up 17.8%
- Private sector construction was up 1.6%
- Public sector construction was up 12.2%.6%
Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis using FRED API.
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