US Construction Spending: June 2015

US Construction Spending: June 2015

The US National Association of Home Builders’ Census Construction Spending analysis shows that total private residential construction spending for June increased to a seasonally adjusted annual rate of US$378 billion.

Construction Spending, US

On a month-over-month basis, private multifamily spending increased to US$52 billion, up by 2.82 per cent over the revised May estimate, while private single-family spending was US$211 billion, a slight decline of 0.27 per cent after two months of consecutive gains.
Annually, multifamily spending rose 23.7 per cent from the revised 2014 estimate and spending on single-family construction was 12.8 per cent higher than June 2014.
The NAHB-constructed spending index indicates that recent gains have been driven by the steady increase in multifamily construction spending. The pace of the multifamily spending is however gradually slowing. NAHB anticipates growing increases in single-family spending in 2015.

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