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Thursday, September 1, 2016

Construction Spending Held Steady in July

Construction spending for July was estimated at a seasonally adjusted annual rate of $1,153.2 billion, virtually unchanged from the upwardly revised June estimate of $1,153.5 billion. During the first seven months of the year, construction spending amounted to $647.7 billion, up 5.6% from the first seven months of 2015.


Total private construction rose to a rate of $875.0 billion, up 1.0% from the revised June estimate of $866.5 billion.

Private residential construction was at a seasonally adjusted annual rate of $445.5 billion, 0.3% above June’s rate.

Private nonresidential construction rose 1.7% to $422.5 billion, due to gains in office and manufacturing-related construction projects.

Public construction fell 3.1% to a rate of $278.2 billion, in large part due to a decline in educational construction.

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