Construction Spending up 12% Year-Over-Year

August 4, 2015

Construction spending increased 12 percent between June 2014 and June 2015, according to the Commerce Department, and in the first six months of the year reached $482.7 billion, an 8 percent increase from the same period last year, reports Reuters.

However, spending increased only 0.1% between May and June, the lowest increase in five months. Public construction outlays jumped advanced 1.6 percent to their highest level since November 2010.

Spending on state and local government projects—the largest portion of the public sector segment—surged 2.2 percent to the highest level since September 2010. Federal government outlays dropped 4.7 percent, the biggest fall since January, according to Reuters