US construction spending rose by 0.1pc in June 2021 to the seasonally adjusted rate of $1.55tr against the revised May estimate and 8.1pc against the year-ago month, according to the country’s Census data.
Total Construction spending increased by 5.1pc to $736.5bn in H1 2021 or 47.5pc of the present annual rate, against the same year-ago period which accounted for $698.8bn.
Private construction spending grew by 0.4pc in June 2021 to the seasonally adjusted rate of $1.22tr above May. Residential construction took the bulk of private investment at 62.8pc with a seasonally adjusted rate of $763.4bn as nonresidential construction represented 37.2pc with a seasonally adjusted annual rate of $451.8bn. In monthly terms, residential grew by 1.1pc as non-residential grew by 0.7pc against May figures.
Public construction trailed private with a growth of 1.2pc in June 2021 to the seasonally adjusted annual rate of $337bn. Educational facilities which grew by 0.8pc to $81.3bn and highways with a growth of 5.3pc to $92.4 in June against May were the main investment destinations.