Construction spending was at a seasonally adjusted annual rate of $1,777.3 billion in July, 0.4% below the revised June estimate of $1,784.3 billion. The July figure is 8.5% above the July 2021 estimate of $1,637.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,424.2 billion, 0.8% below the revised June estimate of $1,436.4 billion. Private residential construction was at a seasonally adjusted annual rate of $920.4 billion in July, 1.5% below the revised June estimate of $934.4 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $503.9 billion in July, 0.4% above the revised June estimate of $502.1 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $353.1 billion, 1.5% above the revised June estimate of $347.9 billion.
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