Industry News

Real estate construction spending remains strong

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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2005 was estimated at a seasonally adjusted annual rate of about $1.09 trillion, 0.3 percent below the revised May estimate and 7.9 percent above the June 2004 estimate. During the first six months of this year, construction spending amounted to about $514.8 billion, 9.3 percent above the $471 billion reported for the same period in 2004. Spending on private construction was at a seasonally adjusted annual rate of about $843.8 billion, 0.2 percent below the revised May estimate of $845.6 billion. Private residential construction was at a seasonally adjusted annual rate of about $602.4 billion in June, 0.4 percent below the revised May estimate of about $604.8 billion and up 9.1 percent from June 2004. More detailed data is available online at http://www.census.gov/constructionspending. In interpreting changes in the statistics in this release, note that month-to-month change...