Construction Spending Rate Rose 0.1 percent in July

Construction spending increased 0.1 percent at a seasonally adjusted annual rate (SAAR) of $1,315.4 billion, in July, according to the Census Bureau. June’s spending estimate was downwardly revised to $1,314.2 billion. July’s figure is 5.8 percent greater than the July 2017 estimate of $1,242.8 billion.

Total private construction was $1,010.9 billion SAAR, a 0.1 percent decrease from the revised June estimate of $1,011.9 billion. Total private construction is 5.1 percent higher than the July 2017 figure.

Private residential construction was $560.1 billion SAAR, 0.6 percent higher than June’s rate. July’s figure was 6.7 percent greater than its July 2017 estimate.

Private nonresidential construction was $450.9 billion SAAR, 1.0 percent below June’s estimate. July’s rate is 3.2 percent greater than the July 2017 figure.

Public construction fell 0.7 percent at $304.5 billion SAAR. July’s figure is 8.3 percent above the July 2017 estimate.

Read the Census release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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