See How Construction Spending is Attempting a Comeback

A lot of jobs have been spilled in the construction sector (NYSE:XHB), though the industry is slowly edging its way back according to the latest numbers from the Dept. of Commerce.

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2011 was estimated at a seasonally adjusted annual rate of $772.3 billion, 0.2 percent (±1.8%)* above the revised May estimate of $770.5 billion. The June figure is 4.7 percent (±1.8%) below the June 2010 estimate of $810.4 billion.

During the first 6 months of this year, construction spending amounted to $357.5 billion, 5.4 percent (±1.3%) below the $377.9 billion for the same period in 2010.

Private Construction. Spending on private construction was at a seasonally adjusted annual rate of $493.4 billion, 0.8 percent (±1.3%)* above the revised May estimate of $489.6 billion. Residential construction (NYSE:XHB) was at a seasonally adjusted annual rate of $235.8 billion in June, 0.3 percent (±1.3%)* below the revised May estimate of $236.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $257.7 billion in June, 1.8 percent (±1.3%) above the revised May estimate of $253.1 billion.

Public Construction.  In June, the estimated seasonally adjusted annual rate of public construction spending was $278.9 billion, 0.7 percent (±2.6%)* below the revised May estimate of $280.9 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.1 percent (±4.0%) below the revised May estimate of $69.3 billion. Highway construction was at a seasonally adjusted annual rate of $74.6 billion, 1.6 percent (±7.7%)* below the revised May estimate of $75.8 billion.

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