Private Construction Spending Grew but Public Spending fell in July

Construction spending grew 0.7 percent in July to $1,083.4 billion (SAAR). June spending was revised up from $1,064.6 to $1,075.9 billion, meaning 0.7 percent growth in June as well. Construction spending during the first 7 months of 2015 amounted to $583.2 billion, 9.3 percent higher than in the first 7 months of 2014.

Total private construction spending rose to $787.8 billion (SAAR), 1.3 percent above June’s revised estimate of $777.4 billion.

Private residential construction spending rose to $380.8 billion (SAAR), 1.1 percent above June’s revised estimate, as construction of single family homes increased by 2.1 percent.

Private non-residential construction spending rose to $407.0 billion (SAAR), up 1.5 percent from June’s estimate, as construction related to manufacturing, power, and communications showed positive increases during the month.

Public construction spending fell 1.0 percent to $295.6 billion (SAAR). Though public construction spending fell across the board, the most notable declines were in the educational and amusement and recreation construction sectors.

Read the Census release.


About Author

Tim Nicholson

Tim Nicholson is an economic research associate at ABA.