US construction spending edges lower in June

Construction spending in the US in June was slightly lower, declining for the second straight month. Despite the decline it increased notably year on year (y/y).

The US Census Bureau reported June construction spending to be an estimated $2.148 trillion on a seasonally adjusted annual rate (SAAR). While this was just 0.3% below May’s spending rate, it was 6.4% higher than spending in June 2023.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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