Steel Markets
August 2, 2019
AGC: Construction Spending Slips in June
Written by Sandy Williams
Construction spending declined in June, but most categories made gains in the first six months of 2019 compared to the same period in 2018, says a new analysis of federal data by the Associated General Contractors of America.
Construction spending totaled $1.287 trillion at a seasonally adjusted annual rate in June, down 1.3 percent from the May rate and 2.1 percent from the June 2018 rate. Spending dipped 0.5 percent in the first six months of this year compared to the first half of 2018. Spending for the first half of the year rose for private nonresidential and public construction, but declined 7.8 percent for private residential due to weaker spending for single-family homes.
