• Private residential building strengthens.

• Nonresidential building falls again.

• Public sector construction continues to weaken.

The value of construction put-in-place rose 0.1% (8.2% y/y) during June after easing 0.2% in May, revised from -0.3%. A 0.4% June increase had been expected in the Action Economics Forecast Survey.

Private construction rose 0.4% (+13.5% y/y) in June after holding steady in May. Residential construction strengthened 1.1% (29.3% y/y) as single-family building rose 1.8% (51.9% y/y), firm for the fourth straight month. Multi-family building eased slightly (+19.7% y/y) and reversed May's increase. Home improvement expenditures improved 0.4% (6.8% y/y) after falling 0.6% in May.

Nonresidential construction declined 0.7% in June (-6.0% y/y) after falling 0.4% during May. Transportation building weakened 1.3% (-7.5% y/y), down for the fourth month in the last five. Lodging construction fell 0.7% (-26.5% y/y) but education construction improved 0.1% (-18.5% y/y). Commercial building eased 0.2% (-2.1% y/y) while office building eased 0.1% (-9.1% y/y).

The value of public construction fell 1.2% during June (-7.5% y/y). It was the sixth consecutive monthly decline. Spending on highways & streets, which makes up nearly one-third of public spending, weakened 5.3% (-7.6% y/y), off 9.9% since December. A 1.7% rise (3.4% y/y) in spending on health care units countered the decline. Utilities construction rose 2.2% (24.7% y/y).

The construction spending figures, some of which date back to 1946 can be found in Haver's USECON database. The expectations reading is in the AS1REPNA database.