Spending on construction projects rose 0.3% to a seasonally adjusted annual rate of $966.7 billion in June as private construction decreased 0.1%, and public construction grew 1.0%, according to Commerce Department figures released yesterday.
The overall increase, which compares to the 0.5% decrease projected by Thomson Reuters, followed a revised May level of $963.2 billion, a 0.8% decrease from the prior month, originally reported as a 0.9% drop to $964.0 billion.
Spending on total private construction fell 0.1% to $643.9 billion in June, compared with a 1.4% drop in May to $644.8 billion. Total private construction was down 16.3% from June 2008.
Construction of new single-family homes rose 2.4% in the month, while multifamily construction slid 7.2%.