Spending on construction projects nationally came to just over $2.1 trillion in June, according to a new survey by the Associated General Contractors of America.
That total, while impressive, was nonetheless around 0.4% below the rate in May, and a much larger 2.9% less than where things stood in May of 2024.
A narrative accompanying the ACG survey noted that the construction spending total was “dragged down by decreases in private residential and nonresidential projects, which outweighed a small pickup in public work.”
In fact, private residential project spending was off by 0.7% in June and 6.2% on a year-to-year basis. At the same time, private nonresidential spending was down by 0.3%, and some 4% compared to June of 2024.
According to a separate survey put together by the U.S. Census, the education institute segment within the public spending category was up by 0.4% for a nearly $113 billion total. Highway construction, at the same time, totaled $144.1 billion for an overall 0.6% gain.
In a statement, Jeffrey Shoaf, chief executive officer of AGC, remarked: “The more uncertainty there is, the less likely developers are going to invest in significant new construction projects.”
Shoaf added that the more that the Trump administration can do to provide economic certainty, “the more likely demand for construction will rebound.”
August 7, 2025
By Garry Boulard
Photo courtesy of Pixabay
