WASHINGTON–Construction spending in the U.S. slipped a bit in June.
Data released by the U.S. Census Bureau found that spending was at a seasonally adjusted annual rate of $1.21 trillion compared to an estimate in May of $1.22 trillion.
June's spending, however, was still 1.6% higher than the same period in 2016, according to the Census Bureau.
The Census Bureau said that on a non-adjusted basis, there was $109.38 billion in construction put in place during the month compared to $104.59 billion in May. During the first six months of the year, construction spending was $577.05 billion, up 4.8% from the same period in 2016.