National nonresidential construction spending contracted 0.1% in June, according to an Associated Builders and Contractors (ABC) analysis of U.S. Census Bureau data.
On a seasonally adjusted annualized basis, nonresidential spending totaled $1.241 trillion. On a year-over-year basis, this represents a 0.5% decline from June of 2024.
Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.3% for the month, while public nonresidential construction spending inched 0.1% higher.
“Nonresidential construction spending declined in June and has now contracted in 6 of the past 7 months,” said ABC Chief Economist Anirban Basu. “Recent declines would be worse if not for ongoing increases in public nonresidential spending, which has risen 5.1% over the past year, significantly outperforming the 4.0% annual decline in private nonresidential activity.
“While ABC members remain optimistic about the second half of the year, according to ABC’s Construction Confidence Index, recent data pertaining to both the construction industry and the broader economy suggest weakness could persist in the months to come.”
Residential construction spending also declined in June by 0.7% on a monthly basis and is down 6.0% compared to June of 2024, the ABC analysis showed.
Total construction industry spending, which includes both residential construction and nonresidential construction, has decreased 2.9% over the past 12 months, the ABC said.
The Associated Builders and Contractors is a national construction industry trade organization that represents resents non-unionized contractors and construction-related businesses.
