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.