Banking

Construction costs increases in June

Construction costs throughout June 2023 was approximated at a seasonally changed yearly rate of $1,938.4 billion, 0.5% above the modified May quote of $1,929.6 billion. The June figure is 3.5% above the June 2022 quote of $1,873.2 billion. During the very first 6 months of this year, building costs totaled up to $917.4 billion, 3.0% above the $890.4 billion for the very same duration in 2022.

Spending on personal building was at a seasonally changed yearly rate of $1,516.9 billion, 0.5% above the modified May quote of $1,509.4 billion. Residential building was at a seasonally changed yearly rate of $856.3 billion in June, 0.9% above the modified May quote of $848.6 billion. Nonresidential building was at a seasonally changed yearly rate of $660.6 billion in June, essentially the same from the modified May quote of $660.8 billion.

In June, the approximated seasonally changed yearly rate of public building costs was $421.4 billion, 0.3% above the modified May quote of $420.2 billion.

Read the Census release.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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