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The U.S. government is reporting that total construction spending in June, 2022 was at a seasonally adjusted annual rate of $ 1,762.3 billion, which is 1.1% higher than May’s revised estimate and 8.3% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $ 923.7 billion in June, which is 1.6% lower than May’s revised estimate.