From the Census Bureau reported that overall construction spending increased:
Construction spending during June 2023 was estimated at a seasonally adjusted annual rate of $1,938.4 billion, 0.5 percent above the revised May estimate of $1,929.6 billion. The June figure is 3.5 percent above the June 2022 estimate of $1,873.2 billion.
Both private and public spending increased:
Spending on private construction was at a seasonally adjusted annual rate of $1,516.9 billion, 0.5 percent above the revised May estimate of $1,509.4 billion. …
In June, the estimated seasonally adjusted annual rate of public construction spending was $421.4 billion, 0.3 percent above the revised May estimate of $420.2 billion.
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This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Residential (red) spending is 11.7% below the recent peak.
Non-residential (blue) spending is close to the peak in April 2023.
Public construction spending is at a new peak.
On a year-over-year basis, private residential construction spending is down 10.4%. Non-residential spending is up 20.9% year-over-year. Public spending is up 13.6% year-over-year.