The following is the unedited transcript of the news release from the Department of Commerce.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2007 was estimated at a seasonally adjusted annual rate of $1,175.4 billion, 0.3 percent (±1.4%)* below the revised May estimate of $1,178.4 billion. The June figure is 2.4 percent (±2.1%) below the June 2006 estimate of $1,204.0 billion. During the first 6 months of this year, construction spending amounted to $550.0 billion, 3.5 percent (±1.6%) below the $570.1 billion for the same period in 2006.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $890.9 billion, 0.3% below the revised May estimate of $894.0 billion. Residential construction was at a seasonally adjusted annual rate of $544.3 billion in June, 0.7 percent (±1.3%) below the revised May estimate of $548.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $346.6 billion in June, 0.3 percent (±1.4%)above the revised May estimate of $345.6 billion.

PUBLIC CONSTRUCTION

In June, the estimated seasonally adjusted annual rate of public construction spending was $284.6 billion, nearly the same as (±2.2%) the revised May estimate of $284.4 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 0.6 percent (±3.4%) below the revised May estimate of $80.4 billion. Highway construction was at a seasonally adjusted annual rate of $75.0 billion, 1.1 percent (±5.9%) below the revised May estimate of $75.9 billion.


Available at:

http://www.census.gov/const/C30/release.pdf